KOCHI: The Bank Employees’s Federation of India (BEFI) will launch a nation-wide agitation on November 29 against the Central Government’s demonetisation drive. Speaking at a press conference here the other day, BEFI office-bearers said it would take at least six months to print as many currency notes of 500 denomination as required.
The Federation pointed out that printing presses in the country were ill-equipped to take up such a big task, due to their limited capacity. According to the Federation, the Central Government and the RBI failed in currency and finance management. “For the last two weeks, normal banking activities such as loan disbursement and investment have been derailed.
The only work the employees are doing is exchanging notes and disbursing cash. However, the banks do not have currency notes of smaller denominations in sufficient numbers to continue the process,” alleged the office-bearers. The Federation also demanded that compensation be paid to relatives of persons who died while queuing up in front of banks.