Source: News Bharati English14 Nov 2016 16:16:15

New Delhi, November 14: ASSOCHAM on Monday impressed upon the government to mobilize all resources across different departments and hire retired bank staff on a massive scale to expedite the currency swapping and withdrawal of cash with minimum inconvenience to the public. Demonetization is an initiative by government to eradicate corruption and catch hold of black money.
ASSOCHAM appealed Prime Minister Narendra Modi saying “Just like general elections when staff across different departments is mobilized; different types of staff can be used for helping the over-stretched banks, grappling with the huge task of dealing with the demonetized currency notes of Rs 500 and Rs 1,000 and dispensing the new notes. The best option appears to be employing the retired bank staff on a mass scale on short-term contracts of three to six months."

While the State Bank of India and a few others have roped in retired staff, the exercise should be done on a massive scale to deal with the situation suggested ASSOCHAM.

 “While preference can be given by the banks to re-employ their own retired personnel, even cross - bank staff would be helpful. After all, functioning of the public sector banks is generally the same," the chamber Secretary General D S Rawat said.

It said the options should be explored to divert staff of other financial services wings and PSUs in the insurance sector for the banking operations for the moment.

The options of outsourcing the house-keeping services to the private sector for the orderly conduct of business at the bank branches should be explored. Such services can include helping the senior citizens; guiding those not familiar with the banking, and the general security upkeep. The local traders' associations and market bodies like Azadpur Mandi, should also be involved in the exercise.