Bankers sore over one-day window to shift notes to chests

January 1, 2017

Bengaluru, Jan 1: The Reserve Bank of India's (RBI) circular asking banks to complete the accounting process and deposit banned notes in currency chests or at the local RBI offices by Saturday has been criticised by bankers.

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“The central bank has started functioning like a local cooperative society. On Friday, it instructed all banks to remit all specified bank notes of Rs 500 and Rs 1,000 denominations with it or the attached currency chests,” a top bank official of a public sector lender said.

“Bank branches are keeping huge cash in crores and it is impossible to remit entire cash at one go,” the official said.

Purushotham A P, manager of the Chitradurga branch of IDBI bank, was more vocal.

“Currency chests have no space to keep cash. They are refusing to accept old notes due to shortage of space. Rural branches will face transportation issues. In semi-urban locations, just one or two chests are functioning and they can't accept cash from all branches. Such branches are instructed to remit money at distant places where more chests are available.”

“Some banks had instructed their officers to remit cash late on Friday at 10 pm. Bank officials were still in the banks and getting ready for cash remittance. Some managers are taking huge cash in their own vehicles. Who will take care of our security?” Purushotham said.

Another bank manager said, “The RBI should think of practical difficulties before issuing any circular. At least, senior bank officials should convey problems faced by the bankers while shifting huge money at short notice. Who cares for bankers' safety?”

Banks have been transferring money to currency chests on a day-to-day basis.

“For the past one week, chests are flooded. We have to transfer currency from chests to the RBI. For that we have to get permission from the RBI. We have been regularly moving cash from our branches to the chests. But the currency chests are flooded and the RBI has not given the lifting order,” another official said.

“The RBI should have given orders in advance to shift currency to the chests. On Friday evening, the RBI instructed to deposit the cash. In a normal course, if it is within city limits, the chests are accessible. In rural and semi-urban areas spread far and wide, for them to come and deposit the money will take time. However, all people are on the job to comply with the guidelines. It is impossible to clear currency in a single day,” the official said.

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Skazi
 - 
Sunday, 1 Jan 2017

REVERSE BANK is full of IDIOTS......

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News Network
March 22,2024

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Bengaluru, Mar 22: An FIR has been registered against BJP MP Tejasvi Surya over a provocative hate post on social media, Election Commission officials said on Friday.

The move comes after a complaint filed by officials of the poll body and Bruhat Bengaluru Mahanagara Palike (BBMP) that the Bengaluru South MP, who is also the President of Bharatiya Janata Yuva Morcha, had in a post apparently targeted a minority and spread enmity between two communities.

He also made a similar post on March 19 on X and YouTube which went viral. He has 1.3 million followers on X, thereby influencing the voters and disturbing the communal harmony between the communities, it further alleged.

Based on the complaint, an FIR was registered at Halasuru Gate police station on March 20 under sections 153 A (promoting enmity between different groups on grounds of religion, race, place of birth, residence, language, etc., and doing acts prejudicial to maintenance of harmony), 295 A (Deliberate and malicious acts intended to outrage religious feelings of any class by insulting its religion or religious beliefs) of the Indian Penal Code and the Representation of the People Act, the officials said.

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News Network
March 26,2024

Bengaluru: The National Investigation Agency (NIA) has detained two suspects in connection with the Rameshwaram Cafe blast case in Bengaluru, sources confirmed on Tuesday.

The preliminary probe has revealed that the two suspects were in direct contact with the suspected bomber.

The NIA sleuths have picked up the suspects from an area in the state capital. However, a statement is yet to be made by the NIA in this regard.

Even as the investigating agencies, both NIA and state special wing CCB teams have launched an extensive search operation in various states, the bomber has remained elusive. The authorities had obtained the bomber’s images and videos from CCTV footage on March 1, soon after the incident.

Sources said that the sleuths were suspecting that the bomber had come from Tamil Nadu and was staying in a neighbouring state for two months before carrying out the blast.

The hair samples of the accused were gathered from the hat of the accused which he abandoned in Bengaluru near a religious place. The authorities have sent the samples for the DNA testing and were hoping for a breakthrough.

The Rameshwaram Cafe bomb blast took place on March 1 on the International Technology Park Limited (ITPL) road in the Brookfield area. Low intensity Improvised Explosive Device (IED) was used to carry out the blast and nine persons were injured in the incident.

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News Network
March 15,2024

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Bengaluru, Mar 15: Former Karnataka chief minister and senior BJP leader B S Yediyurappa was booked under the Protection of Children from Sexual Offences (Pocso) Act on Thursday for allegedly sexually assaulting a minor at his residence in Bengaluru last month.

Yediyurappa, 81, was booked after a woman lodged a complaint saying that she visited his residence on February 2 seeking justice in a rape case against her daughter and sought that a special investigation team (SIT) be formed to look into the case.

According to the first information report (FIR), Yediyurappa allegedly took the minor to a room, closed the door and sexually assaulted her. The woman further alleged in the FIR that when she confronted Yediyurappa, he said that he was checking if the girl was raped or not. Yediyurappa later allegedly apologised and asked the woman not to reveal the matter to anyone.

The Sadashivanagar police in Bengaluru have registered a case under Section 8 (commit sexual assault) of the Pocso Act and Section 354 (a) (sexual harassment) of the Indian Penal Code (IPC).

Reacting to the allegations, the former CM said that around one-and-a-half months ago, they (the victim and her mother) had come to his house seeking help and he had taken them inside. 

“After listening to her, I called the city police commissioner B Dayananda over phone seeking to address her problem. Later, they spoke against me and I then suspected that there is some health problem with her. I sent them to city police commissioner’s office. I even gave her some money as they were in distress. I came to know that an FIR has been registered and will look into it. But this is what I get for helping someone,” he added.

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