YesBank & Grofers -- Cash is not commodity to sell.

The Issue

Post demonetization, in a cash constrined country, Yes Bank, a bank licensed by RBI is doing business partnerships in distributing cash. 

"Customers who wish to order cash withdrawal will have to buy grocery of minimum of Rs2,000 and pair it with a special code to get the money ". 

http://www.livemint.com/Industry/jKFVhO3CM3AeX1tLH7hcTP/Yes-Bank-Grofers-tie-up-to-deliver-cash-at-doorstep.html

This directly is against the RBI notification which says violating the condition for cash withdrawal through merchants --  "The facility is available irrespective of whether the card holder makes a purchase or not" , essentially making cash a commodity.

https://m.rbi.org.in/Scripts/NotificationUser.aspx?Id=10004&Mode=0

When people stand in queues for ages, ATMs across the country are shut and cash supply is in shortage, YesBank forgetting its duty of serving its own customers by putting the cash it has on ATM's / keep branches open and dispense cash, instead is partnering with private companies and is in the business of "selling cash" through exclusive business partnerships.

Sign this petition to have RBI issue clear instructions to all banks including YESBank that cash is not their commodity to sell in business partnerships.

 If you have installed Grofers app, Please consider rating them with 1* on app store and let them know they should have some empathy and not do business out of others sufferings.

avatar of the starter
Srikanth LakshmananPetition Starter
This petition had 13 supporters

The Issue

Post demonetization, in a cash constrined country, Yes Bank, a bank licensed by RBI is doing business partnerships in distributing cash. 

"Customers who wish to order cash withdrawal will have to buy grocery of minimum of Rs2,000 and pair it with a special code to get the money ". 

http://www.livemint.com/Industry/jKFVhO3CM3AeX1tLH7hcTP/Yes-Bank-Grofers-tie-up-to-deliver-cash-at-doorstep.html

This directly is against the RBI notification which says violating the condition for cash withdrawal through merchants --  "The facility is available irrespective of whether the card holder makes a purchase or not" , essentially making cash a commodity.

https://m.rbi.org.in/Scripts/NotificationUser.aspx?Id=10004&Mode=0

When people stand in queues for ages, ATMs across the country are shut and cash supply is in shortage, YesBank forgetting its duty of serving its own customers by putting the cash it has on ATM's / keep branches open and dispense cash, instead is partnering with private companies and is in the business of "selling cash" through exclusive business partnerships.

Sign this petition to have RBI issue clear instructions to all banks including YESBank that cash is not their commodity to sell in business partnerships.

 If you have installed Grofers app, Please consider rating them with 1* on app store and let them know they should have some empathy and not do business out of others sufferings.

avatar of the starter
Srikanth LakshmananPetition Starter

The Decision Makers

Dr. Urjit R. Patel
Dr. Urjit R. Patel
Governor, Reserve Bank of India
Yesbank
Yesbank
Albinder Dhindsa
Albinder Dhindsa
CEO, Grofers

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Petition created on 13 December 2016