Shillong, July 22: The organisation ACHIK Conscious Holistically Integrated Krima submitted complaints to the Lead Bank Officer. State Bank of India, West Garo Hills,Tura, Meghalaya regarding the unavailability of different denomination notes in ATMs in Tura.
The Achik Conscious Holistically Integrated Krima (ACHIK) , express our grave concern and to lodge aflormal Complaint about the recurring issue of the unavailability of various denomination notes in the ATMs located 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 have found, experienced and have been informed by fellow customers of the absence of lower denomination notes such as 10, 220, 250, 100 and 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.
If the banks and financial institutions are starving the public of the smallerdenominations, then the market would directly rise due to shortage of money andthereby giving a way to inflation of an cconomy in longer terms.
The ACHICK stated that as lead bank is aware, that there is a strict guidelines from the RBI to all banks to recalibrate ATMs to dispense or provide smaller denominations in their ATMs which is vet to be practised in the ATMs of Tura by all banks in Tura.
The Section II of the notification RBI/2016-17/115 DCM(Plg) No. 1241/10.27.00/2016-17 Dated Nov. 09, 2016 clearty states on the need to recalibrate ATMs with atleast one cassette in each ATM is configured to dispense banknotes of lower denominations.
The persistent nature of this problem points to a systemic issue that may suggest an underlving 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,
In support of the complaints, the organisation would like to refer the following cases law which reflect the legal stance on similar issues of corruption within financial institution.
Manoj Kumar Mishra vs CBI1: This case dealt with the conviction of an individual under the Prevention of Corruption Act, 1988 highlighting the judiciary’s strict view on corruption within financial operations.
Opto Circuit India Ltd. Vs Axis Bank & Ors2: In this case, the Supreme Court of India udressed issues related to the freezing of bank accounts and the implications of such actions under the Prevention of Money Laundering Act, 2002.
Given the severity of the situation and the potential legal implieations, the organisation urge the bank to conduct a thorough investigation into this matter and take imnmediate corrective action to ensure that ATMs are stocked with a full range of currency notes at all times.
The organisation expects a prompt response to this complaint and a resolution to
the issue at the earliest possible convenience. The letter was sign by Mr. Macklawrence M Sangma, Working President, Hamrash N. Marak Chief Organising, Happynews R. Marak,
Asst. General Secretary of ACHIK.
