And now Demonetisation: Modiji, Please don’t let the bankers down
New Delhi: After the Modi Government’s hard hitting decision to discontinue the use of ₹500 and ₹1000 notes to address the issue of black money, a letter written on behalf of the bankers to Prime Minister Narendra Modi has gone viral on social media.
We reproduce the letter:
Dear Modi ji we The Bankers are with you in your drive for black money.
But we have some questions :
No extra remuneration
No extra staff
No reward or appreciation
Every month or so you introduce one yojana and bankers make it a success with their diligence and hard work. For example , PMJDY, PMJJBY, PMSBY, APY, MUDRA Loans, PMSBY, SSY …. now Withdrawal of Rs 500 and Rs1000 currency.
And in return they only get long working hours, extra work pressure, more risk, frustration and health problems.
Banking job has become the most hectic, thankless risky and stressful job.
Bankers ignore their families just to serve people and to support country.
Our whole economy majorly depends on Banking sector. Bankers demand respectable wages and 5 day Banking and a little appreciation and acknowledgement for sincere work.
You expect so much from Bankers so as they also expect from you to consider their reasonable demands.
We are always with you to support & perform.
Therefore please don’t let down the Bankers.
A connected post on social media talks of Reserve Bank of India and how it has gained.
The current currency notes as per RBI is 17.5 lakh crore. 86% is 500, 1000 notes that is 15.05 lakh crores.
If 20% does not come back profit of RBI is 3 lakh crore.
If 30% does not come back profit is 4.5 lakh crores.
The notes in circulation are a liability in RBI’s balance sheet; so what notes don’t come back is deducted from their liability and will be a profit. If as per normal practice this is declared as divided to the Government, our fiscal deficit of 3.5% of GDP at about 5.33 lakh crores can be reduced dramatically and even wiped out.
False notes issued by our enemies gets knocked out. Reducing terror funding.
Yes there have and will be difficulties, is it not worth it!!!