Bank Officers Association has indicated the worse to come. After several issues that cropped up due to this decision, Bankers have come out alleging Partiality on the Part of Reserve Bank of India (RBI). They allege that RBI is giving preference to Private Banks over Public Sector Banks in dispensing Cash.
In such scenario, RBI is indirectly aiding Private Banks to conduct Hawala. The Association also said that due to this partiality of RBI, the staff at the Public Sector Banks are under severe stress from the last couple of weeks. If this scenario continues, things would go worse in the first week of December when salaries get deposited.
On the other side, the association said in case the current scenario of Cash Supply continues, it will take at least five months for things to get normal which will be a disaster to the economy. All the Currency Printing Presses in the country are operating in three shifts to meet the demand.