The State Committee of the Bank Employees’ Federation of India has accused the Union government and the Reserve Bank of India of failing in currency management, which had caused the present liquidity crisis following the demonetisation of high value currency notes on November 8.
The federation will launch nation-wide protest action from November 29 against the government decision, said T. Narendran and S. S. Anil of the federation here in a press release on Thursday.
The federation leaders said that it would take at least six months for the currency supply situation to normalise. They felt that there was no justification in not allowing cooperative banks and societies in Kerala to exchange old currency for the new ones. A total of 70 persons, including 11 bank workers, had died during these days.
