New Delhi, November 15 (IANS): The Supreme Court on Tuesday asked the Centre to explain the steps it has taken or will take to deal with the chaos outside banks and ATMs following the demonetisation move and observed that people should not suffer. Asking the Centre to file reply without formally issuing notice, the bench of Chief Justice T.S. Thakur and Justice D.Y. Chandrachud, said they would not interfere with the government policy. As senior counsel Kapil Sibal, appearing for the petitioner, described demonetisation as a “surgical strike against the common man”, Chief Justice Thakur observed “What Attorney General says is a surgical strike, what you say is a carpet bombing”. While pointing to the hardships being faced by the people and the provisions of law governing the demonetisation of currency notes, Sibal said, “You can have surgical strikes against black money but you can’t have surgical strikes against common people.” Makings it clear that he was not seeking stay of the government decision to demonetise, Sibal said, “We are with the government in curbing the black money, but the inconvenience it is causing to the public is not reasonable. It is jeopardising their life.” Defending the government decision as being in conformity with the legal provisions, Attorney General Mukul Rohatgi admitted that a government decision of such magnitude would cause some pain and urged the court not to interfere as “These are the matters of economic policy”. At this, Chief Justice Thakur observed “We are not interfering in your policy matters.” Major bank union threatens to ‘review’ cooperation A major bank employees union said it will have to “review” cooperation extended to the demonetisation efforts of the central government if the employees’ burden is increased further. “I may have to review the cooperation extended to the demonetisation efforts if the employees are put to undue stress and difficulty. There is a limit to elasticity,” C.H. Venkatachalam, General Secretary, All India Bank Employees’ Association (AIBEA) told IANS on Tuesday. “Further there will be a circus within the bank branches if the government implements the idea of indelible ink on people exchanging the invalid 500 and 1,000 rupee notes,” he added. “The government can also have a ballot box inside the bank branches,” another banker quipped. According to Venkatachalam, there should be a software/technological solution rather than the indelible ink. “The technological solution should be such that once the data is fed into a bank branch system it should get reflected in the systems of all other bank branch computer terminals,” he said. According to him, the central government has asked Indian Banks’ Association (IBA) to instruct member banks to deploy staff on shift basis if banks have to function longer hours. The government has also asked IBA to install additional terminals, and hire retired bankers to ease the situation. Venkatachalam said the Reserve Bank of India (RBI) and the central government should ensure sufficient supply of currency notes so that people can exchange their old notes. Officials of public sector banks also wondered how private sector banks are able to get currency supplies whereas they are not able to get needed cash. You cannot withdraw five lakhs for weddings DIMAPUR, NOVEMBER 15 (MExN): Dimapur Police today clarified that against the backdrop of the current restrictions on withdrawal limits put in place under the demonetization process, there is no provision whereby, if the concerned area Deputy Commissioner of Police (DCP) certifies regarding marriage in a family, a person can withdraw Rs. 5 Lakhs from their account. A press note from the PRO, Dimapur Police informed that such information is “false and misleading.” Citizens are warned not to spread such mischievous rumours and those indulging in such, are liable to be prosecuted under the law, the police cautioned. SBI launches Cash@POS terminal in Dimapur RBI responds to Nagaland state’s request DIMAPUR, NOVEMBER 15 (MExN): The State Bank of India (SBI) today launched a Cash@POS terminal at the Supermarket Complex, Dimapur in continuation of its efforts to meet the financial needs of its customers after the central government’s demonetization move. Cash@POS is a facility using which debit card holders can withdraw cash by swiping their debit/prepaid cards (issued in India) at SBI POS Terminals at merchant locations. Assistant General Manager, Regional Office, SBI, Thangboi Lunkim today informed The Morung Express that on Tuesday, more than Rs 2 Lakh was dispensed to around 200 customers. Currency in the denominations of Rs 10, Rs 100 and Rs 2000 were dispensed by the terminal. Meanwhile, in response to a request letter from the state for Rs 300 Crores of small denominations, Lunkim informed that the RBI had sent the money on Tuesday. He further informed that more ATMs are now dispensing cash in the state.
