All India Bank Employees Association (AIBEA) is for clean Banking system and does not support Illegality, says an Union Official

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)