Issue uniform guidelines to Banks on exchange of Rs 2000 notes : AIBEA requests IBA

Hyderabad, May 22 All India Bank Employees’ Association (AIBEA) on Sunday requested Indian Banks’ Association (IBA), Mumbai Chief Executive Sunil Mehta to intervene and issue uniform guidelines to the Banks to smoothen the process of exchange of Rs. 2000 Notes.
In a letter to Mr Mehta, a copy of which was marked to RBI Governor Shaktikanta Das and Secretary, Department of Financial Services (DFS), Ministry of Finance, New Delhi Vivek Joshi,AIBEA General Secretary Ch Venkatachalam said since RBI has issued its guidelines on withdrawal of Rs.2000 currency Notes from circulation, there is bound to be panic and anxiety with general public.
Hence there is going to be heavy rush in many Branches for exchange of Rs. 2000 Notes into other denominations.
He said while crediting Rs. 2000 Notes into the bank accounts of individuals and companies will not be a problem, as it will be in the normal course, the process of exchange of Rs. 2000 Notes across the bank counters will obviously result in difficulties in the Branch staff, particularly the employees working in the cash department.
We observe that an Annexure III is in circulation which stipulates that the staff have to take a Form from the public for exchanging the Notes.
The AIBEA General Secretary said the Form stipulates the name of the tenderer, ID proof in original, details of the Currency Notes, etc.
RBI has clearly stated that the Rs. 2000 Notes will continue to be a legal tender and hence it is not understood as to why all these details are required to be submitted to the Bank by the public for exchanging the Notes. It is cumbersome for the public as well as for the bank employees/officers, he added.
We do not want to recall the acute problems faced by public and bank employees/officers during the post-demonetisation period. At that time, the 500 and 1000 were banned. Now, Rs.2000 Notes continue to be legal tender. Hence these procedures are unwarranted and avoidable.
We feel that there is no need to obtain these from the public, Mr Venkatachalam added.
UNI CS1909.