RBI should not be discriminating: Chairman Raj Bank

Chairman of Rajkot based “Raj Bank” Kamal Dhami has demanded an end to discrimination between banks and insisted RBI should be just in the conduct of affairs between co-op banks and commercial banks.

RBI must have a uniform approach while dealing with banks including co-operative banks. Cooperative banks are the backbone of our national development and their clientele base is a crucial factor in catering to low and middle income groups, Dhami added.

Dhami was answering queries on the demonetization woes of urban cooperative banks post November 8. Providing sufficient currency to these banks means reducing troubles of small and middle income groups and restoring their faith in co-op banks, he said.

Like many co-operative banks and urban cooperative banks Rajkot based Raj Bank is also suffering in the wake of demonetization. The young Chairman of the UCB Mr Kamal Dhami says practically there was no business in the bank over the last month. We are facing problems of funds as RBI has not issued enough new currency to co-operative banks, he added.

Managing the affair has been quite tough as what has come in handy in the current situation is our excellent relationship with the customers. We have made attempt to provide Rs. 50/- and Rs 100/- notes mostly to avoid exchange trouble faced by customers in case of Rs. 2000/- anotes, says Dhami.

“See, its customer’s money and a bank is nothing but trust so we have to meet customers’ demand at least at a minimum level. So with a view to facilitating our customer base we have given money to all customers instead of giving maximum amount to a few of them”, explains Dhami on ways to tackle the situation.

On its part during the crisis, the Bank had started several additional cash counters to avoid long queues of customers and also providing customers with drinking water and tea while they were in queues.

Dhami thanked his staff and said” I appreciate the sincere efforts made by the Raj Bank Team to cope with the situation and maintaining the concept of service with a smile.

Raj Bank also opened a number of new bank accounts and issued Rupay debit cards. It is also considering installing POS machines. It has also launched awareness campaign through banners and hoardings urging customers to use non- cash currencies like cheque, RTGS, Rupay Debit Cards, etc.

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