Demonetisation impact
TURA/Shillong: The growing resentment among people in Garo Hills post demonetisation found a vent after two banks in South Garo Hills district failed to cater to customers’ requirements on Thursday.
Shortage of smaller denomination of currency notes in the Baghmara branch led to mob fury on Thursday morning and people waiting outside the bank for hours locked the main gate.
The trouble at the district headquarters branch started when many customers could not withdraw the stipulated weekly amount of Rs 24,000. Also, the bank turned down requests for smaller denominations.
The situation went out of control around 10am leading to an altercation. Many agitated customers alleged that the bank had released large amount of money for payment of MGNREGA work a day earlier. Hundreds of angry customers then surrounded the bank in Baghmara demanding answers to why smaller currency notes were not available. When the bank employees could not give a proper explanation, the main door was locked.
The mob also did not allow the branch manager to leave his office.
Police and magistrates had to intervene to bring the situation under control. They later broke the lock and bank transactions resumed by noon.
Meanwhile, in Chokpot, angry customers pelted stones on the Meghalaya Cooperative Apex Bank branch office after they were denied withdrawals due to shortage of money. Police had to picket the branch office to prevent further trouble.
However, transactions at SBI Chokpot were normal.
Speaking to The Shillong Times, SBI’s Assistant Regional Manager in Garo Hills said while there was a shortage of smaller currency, there was adequate amount of Rs 2,000 notes throughout the region.
SBI branches in Garo Hills region have been facing difficult times in obtaining smaller denominations since the apex bank has been rationing supply of cash because it is yet to print enough number of new notes.
“We are expecting smaller currency notes but only after Christmas,” said the assistant regional manager.