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FILE - A private money trader counts Indian rupee currency notes at a shop in Mumbai, India. (Representational image). VOA

Chennai, Dec 2, 2016: The All India Bank Employees Association (AIBEA) is for a clean banking system and does not support any illegal action on the part of management or the employees, said a top union official.

“The union is for a clean banking system. It does not support any illegal action on the part of management or employees,” AIBEA General Secretary C.H. Venkatachalam told IANS in his reaction to the suspension of bankers and transfer of officials.


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The central government on Friday announced the suspension of 27 officials of various public sector banks and transfer of six bankers for carrying out transactions which were irregular and violative of Reserve Bank of India’s (RBI) instructions with regard to exchange of legal tender for demonetised 500/1,000 rupee notes.

Venkatachalam said the law should take its own course to book the real culprits.

A banker with a nationalised bank told IANS that it is easy to catch those who are involved in illegal actions with regard to exchange of legal tender for demonetised notes.

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“There are several checks and balances and if auditors want to sniff out illegality then it could be easily done,” said the banker who spoke on the condition of anonymity.

There have been complaints of bankers diverting legal tender in exchange for hefty commissions while genuine public were suffering for want of cash for their daily sustenance. (IANS)


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Indian wrestler Ravi Kumar (57kg) and Deepak Punia (86kg) enjoyed fruitful outings at the Tokyo Olympic Games as they secured semifinal berths in their respective weight categories at the Makuhari Messe on Wednesday.

On the opening day of the wrestling competition, Ravi Kumar defeated Bulgaria's Georgi Vangelov 14-4 on technical superiority to reach the last-four in the men's 57kg category, while compatriot Deepak Punia overcame China's Zushen Lin 6-3 on points to advance to the semifinals.

Ravi Kumar will take on Nurislam Sanayev of Kazakhstan in the last-four, while Punia will be up against David Morris Taylor of the USA.

Earlier, Ravi Kumar had won his opening-round bout by technical superiority against Colombia's Oscar Tigreros to secure a quarterfinal spot. Competing in the Round-of-16 bout against the Colombian wrestler, the 23-year-old Ravi Kumar, who is making his Olympic debut, showed no nerves as he dominated the bout to win by technical superiority (13-2).

Ravi Kumar landed attack after attack and went 13-2 up, winning the bout by technical superiority with minutes to spare. In wrestling, building up a 10-point lead over the opponent results in a victory by technical superiority.

India's 86kg freestyle wrestler Deepak Punia showed no signs of the niggle that had forced him to pull out of the Poland Open Ranking Series in Warsaw in June, as he defeated Nigeria's Ekerekeme Agiomor on technical superiority to secure a quarterfinal berth.

He got his Olympic campaign to a fine start as he was in control from the start of the bout and hardly ever allowed his Nigerian opponent any room to maneuver his moves, finally winning with a 12-1 on technical superiority.

Punia, who had also suffered an elbow injury just before the Games, was slow at the start but came into his own as the bout progressed, inflicting takedowns at regular intervals to earn points.

The Indian wrestler eased into a 4-1 lead at the break and extended his lead comfortably in the second period.

Punia, the silver medallist from the 2019 world wrestling championships, then set up a clash with China's Lin Zushen in the quarterfinals and defeated him 6-3.

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