Friday, 20th October, 2017

Totalling cash is tiring task

14, Jul 2017 By shakeel ahmad

KANPUR: It is definitely a mammoth task to complete the task of counting cash collected after the demonetization of Rs 500 and Rs 1000 currency notes in the whole of the country. The Reserve Bank of India has even cut its staff holidays for this essential purpose. Not only has this but it also tendered for new sets of counting machines to speed up the counting process of the massive deposit of money. Even man and machines are not proving to be sufficient!

Equipped with a vast staff of 15000 employees, the country’s central bank has been endeavouring hard to reach the goal of finalising the counting. No date has been fixed for completion of the assignment. According to the Reserve Bank of India Governor Urjit Patel, the counting of cancelled Rs 1000 and Rs 500 currency notes goes on continuously for six days a week. Besides Saturdays, many other holidays have been suspended for accomplishing the mission.

Will the counting course complete after several months? There is no definite answer to this question. When the holidays are suspended the counting process will certainly gain momentum and the pace of work will gather an enhanced impetus with the procurement of many a new counting machines. However, the Congress party leader Rahul Gandhi has suggested of a mathematics tutor for finishing the objective.

Although the parliamentary panel members tried to roast the bank chief, yet they were immediately restrained from such off beam action. Whether the apex bank would be able to provide details of the amount of cash deposited post-demonetisation by May 2019 is not clear. It seems that the counting of the banned currency notes was an arduous responsibility as the people had faced during its deposit. Their patience was worth seeing at the bank. They felt as if their saved money had suddenly gone valueless.