DeMon Fall Out: Bank Staff Who Worked Overtime Yet to Get Dues; Strike Likely | CORPORATE ETHOS

DeMon Fall Out: Bank Staff Who Worked Overtime Yet to Get Dues; Strike Likely

By: | October 5, 2017
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Oct 5: It’s almost a year since Prime Minster Narendra Modi came up with an announcement that turned the Rs 500 and Rs 1000 notes just pieces of paper. The demonetization act had pushed the common man to unlimited suffering.

Now with the demonetization announcement set to reach its one-year anniversary, the employees at various banks in the country are complaining.  According to a report, bank officials have said they are yet to be paid for the extra hours they put in during the note withdrawal period.

It is being said that the number of employees who are yet to receive their dues for the overtime they had put in stand at 4 lakh.

The demonetisation was announced on November 8 last year, pushing the nation into chaos.  With 86% of currency notes ceasing to be legal tender, people were forced to throng their nearest banks to exchange old notes for new ones or to withdraw money in the new currencies.

This had put much pressure on the bank staff and they had to put in close to 14 hours of work a day. Further, leaves were cancelled to make up for the shortage of man power.

With dues remaining to be paid, the All India Banks’ Employees Association (AIBEA) has apprised the situation with the government. Employees who had worked overtime are eligible for around Rs 100 – Rs 300 for every extra hour. The AIBEA feels that if the government doesn’t take a suitable step in favour of the employees, the bank unions would have no other go and would call for a strike or go in for legal redressal.