The Achik Conscious Holistically Integrated Krima (ACHIK) has submitted a complaint to the Lead Bank Officer of State Bank of India, Tura regarding the unavailability of different denomination notes in ATMs in Tura.
“This situation has caused considerable inconvenience to the public and raises serious questions about the operational integrity of the bank. On several occasions, the organisation has found, experienced and has been informed by fellow customers of the absence of lower denomination notes such as Rs 10, Rs 100 and Rs 200 in the ATMs. This forces customers to withdraw larger denominations, which is impractical for everyday transactions and leads to an unnecessary financial burden on the public,” ACHIK said.
It also said that if banks and financial institutions are starving the public of the smaller denominations, then the market would face shortage of money and thereby giving a way to inflation in longer terms.
The ACHIK stated that there is a strict guideline from the RBI to all banks to recalibrate ATMs to dispense or provide smaller denominations in their ATMs which is yet to be practised in the ATMs of Tura by all banks in Tura.
“The persistent nature of this problem points to a systemic issue that may suggest an underlying malpractice within the bank’s operations. In the context of banking and public trust, such actions, if found to be deliberate, could be tantamount to corruption,” it said.
The organisation also referred to the Supreme Court’s judgements in Manoj Kumar Mishra vs CBI and also Opto Circuit India Ltd vs Axis Bank & Ors which reflect the legal stance on similar issues of corruption within financial institutions.
“Given the severity of the situation and the potential legal implications, we urge the bank to conduct a thorough investigation into this matter and take immediate corrective action to ensure that ATMs are stocked with a full range of currency notes at all times,” the ACHIK said in its complaint.
