Tuesday, November 15, 2016

[IAC#RG] COMPLAINT re demonetisation - BLATANT LIE by RBI's Ms. Alpana Kilawalla on currency availability

The Governor
Reserve Bank of India


Dear Sir

Kindly refer my earlier online complaints to RBI and also online complaints to ANDHRA BANK vide no. CS20160028432242, CS20160028828916 etc. and several telephone complaints to ANDHRA BANK toll free number 18004251515.

I am formally complaining to you on behalf of INDIA AGAINST CORRUPTION that it seems the RBI is inequitably diverting the small denomination cash to the private banks and MNC banks who are not at all interested in distributing cash to public but are instead giving it to their regular corporate clients and black-marketeers through the back channels.

We are clearly complaining that the public sssurance of RBI through Ms. Alpana Kilawalla that there is no shortage of notes / coins of other denominations for payouts to depositors is a BLATANT LIE. The new RBI Governor is clearly inexperienced, incompetent and not up to the task of smoothly managing such a gigantic national enterprise.

Since INDIA AGAINST CORRUPTION is a prime mover for demanding Rs. 500 and Rs. 1000 demonetisation, we are every aggrieved that PSU Banks like Andhra Bank are the victims of  INEQUITABLE note distribution by RBI and thereby our PM Shri Modiji is facing insults and calumnies.

To cite my personal case, today (16.11.2016) after great difficulty I was only able to enter the building of Andhra Bank branch at Sector 4 Dwarka, New Delhi due to presence of police who since today have ensured 3 lines/queues, including separate line for account holders.

However despite standing in line for 3 hours today since 9.15 AM, by time I reached upto bank door at around 11.30 AM, the cash had run out. The Bank Manager Shri Soni was very apologetic and I have only praise and no quarrel with him or other Andhra Bank branch staff who are very helpful and courteous otherwise.

We are caused to further complain  that due to large scale diversion of funds to non-account holders of Andhra Bank for note exchange, there is no funds left at branches to pay out to Andhr Bank account holders and thereby normal withdrawal of funds by way of cheques and cards etc is not taking place in contravention of FinMin notification of 8 Nov 2016.

In these circumstances we fail to see why we citizens should trust Govt or the Banking system and deposit more notes into the system till Govt demonstrates proven capacity to pay citizens back in sum on demand.

Therefore kindly arrange that there is sufficient Rs. 500 and Rs. 1000 coins and small denomination notes like Rs 10, 20, 50 and 100 to pay each and every account holder of the smaller PSU banks like Andhra Bank at Dwarka Sector 4 branch on demand to the prevalent prescribed limits, and we do not face such inconvenience again.

NB: We have already made it clear to RBI that India Against Corruption subscribers will not accept the defective new series 500 and 2000 rupee notes.


Sarbajit Roy
National Convenor
and an account holder with M/s Andhra Bank

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