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Police Officials in Delhi are Forcing Bankers to Deposit or Exchange their Old currency for New money

Senior Delhi Police officers denied the allegations and said they had not received any complaint from any bank

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New Delhi, November 25, 2016: Bankers here say that a section of police personnel are still forcing them to deposit or exchange their old currency for new money although the facility ended on Thursday midnight.

A few bankers IANS spoke to on the condition of anonymity said they were being pressured by police personnel in uniform to provide them new 500 and 2,000 rupee notes in lieu of the demonetised currency.

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Some bank employees who tried to approach senior police officers backed off after being told by the policemen that the money they wanted, converted or deposited belonged to their bosses.

[bctt tweet=””I have no option but to do what the policeman wants.”” username=””]

They (policemen) making such demands were those deputed outside to provide security to our bank. They are not bothered about our problems. They just want to exchange their old notes all the time, one senior officer of a state-run bank told IANS.

The officer admitted that for a few days after the demonetisation was announced on November 8 she did help the policemen change their old currency for new even after banking hours.

The officer, like the others IANS spoke to, said they did this because they felt sorry for the police personnel who spent the whole day trying to control the mobs outside.

A few policemen also related personal problems to generate sympathy.

But now they talk to my colleagues and me in a way that amounts to threatening us although not in so many words. I don’t know what to do, said one female bank officer.

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Senior Delhi Police officers denied the allegations and said they had not received any complaint from any bank.

The government announced on Thursday that exchange of the demonetised currency would cease from midnight of Thursday in all banks. The facility would, however, continue at RBI offices.

But the policemen seem to have no respect for rules, the bankers said.

Unable to handle the pressure caused by an ill-mannered cop, a relationship manager of another bank told IANS: I have no option but to do what the policeman wants.

The policeman threatened to go to the Income Tax Department and lodge a complaint against me. If my senior is not taking action against the policeman, why would I face unwanted problems, the bank official asked.

Another banker complained about a police sub-inspector who allegedly brings in friends all through the day and tells the bankers to exchange their old currency for new money.

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When we tell the policeman not to make us do such things, he argues with us, the bank employee told IANS.

All the bank employees insisted they should not be identified by name or designation and that even the names of their banks should not be revealed because they did not want to face the policemen’s wrath. (IANS)

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RBI To Transfer 50,000cr Surplus To The Central Government

The Reserve Bank's income comprises of earnings from foreign and domestic sources, with the major portion being contributed by interest receipts, complemented by relatively small amounts of income from discount, exchange, commission, etc.

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Reserve Bank of India. VOA

The Reserve Bank of India (RBI) on Wednesday said that it will transfer Rs 50,000 crore as surplus to the central government for the year ended June 30, 2018.

The Central Bank which follows the July-June year had transferred Rs 30,659 crore to the government’s coffers for the year ended June 30, 2017.

According to RBI, the decision to transfer the surplus was taken by its Central Board which met here on Wednesday.

The Central Bank which follows the July-June year had transferred Rs 30,659 crore to the government's coffers for the year ended June 30, 2017.
The Central Bank which follows the July-June year had transferred Rs 30,659 crore to the government’s coffers for the year ended June 30, 2017.

The Reserve Bank’s income comprises of earnings from foreign and domestic sources, with the major portion being contributed by interest receipts, complemented by relatively small amounts of income from discount, exchange, commission, etc.

Also Read: RBI Penalty not to have any material impact: IDBI Bank

The RBI Act stipulates that after making provisions for contingencies and corpus funds as defined therein, the balance profit of the apex bank is to be transferred to the central government. (IANS)