SBI Officers' Association condemns, urges customers to refrain from violent protest
Source: The Sangai Express

Imphal, November 30 2016: Following the incident at SBI branches in Leimakhong and Canchipur, State Bank of India Officers' Association (NE Circle) has strongly condemned the vandalism acts of vandalism committed by SBI customers.

Briefing mediapersons today at the office of the State Bank of India Officers Transit Camp at Uripok Mayai Leikai, general secretary of State Bank of India Officers' Association (NE Circle) Rupam Roy said, "State Bank of India Officers' Association, North East Circle strongly condemns the vandalisation of some properties of SBI branches located at Imphal by angry mob.

The agitated mob even went to the extent of pelting stones which caused damage to bank property and serious injury to a guard" .

The entire incident materialized when a section of public, who were waiting in queue for withdrawal were falsely informed by the branch officials about the restriction on the amount of withdrawal due to shortage of cash.

However due to timely intervention of the police personnel, the situation was contained and further damage or injury was averted.

He added that the prevailing situation of cash shortage is because there is limited remittance from the Reserve Bank of India to all the chest branches of SBI in Manipur.

There are 10 chest branches of SBI in Manipur and all cash inflows come from Kolkata.

Due to this reason there is acute shortage of hard cash in Manipur.

According to information culled by the association, 1500 crore of cash were in circulation prior to the demonetisation of Rs 500 and 1000 notes by the Government of India.

With only over Rs 500 crore of newly minted cash in circulation here in the State, it is obvious for Manipur to have a shortage of cash.

The Reserve Bank of India has rationed withdrawal of cash across the country and it is the duty of the SBI to abide by the instruction of RBI, he added.

The responsibility to provide adequate amount of cash to banks lies with the RBI, the branches are solely dependent on such supply of currency notes by RBI to meet customer's cash demands.

However, post demonetization, RBI has not been able to cater to the needs of banks.

The precarious situation prevails not only in Imphal but it is now a pan India phenomenon, he added.

Further he urged the esteemed customers of SBI across the State and common public in general to restrain from resorting to any form of violence.

Rupam added that SBI has no authority to withdraw or issue cash to any person.

Further he stated that the SBI association will abide by the decision of the Central Government and urged the public to bear for some more days.

The media interaction session was also attended by deputy general secretary of the association Bijoy Krishna Dutta and State's representative Lilabanta.

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