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Storm over bank shift

Jan. 4: Their counterparts in the cities may get ATMs at their doorstep without asking, but residents of rural Kathaltoli have to petition Delhi to retain a mere bank branch in their area.

Ever since Punjab National Bank relocated its Kathaltoli branch to Patherkandi two months ago, customers based in the area have been travelling a minimum of 20km for simple bank transactions like depositing and withdrawing money.

They have hit the streets to demand that the branch be brought back, only to be told that it does not make business sense to maintain one for a few hundred customers.

Justifying the change in location, an official of the bank said the move to Patherkandi was aimed primarily at boosting trade and benefiting residents of both areas.

“Patherkandi is a big market and has tremendous business potential.

The branch at Kathaltoli was incurring losses,” he said.

The PNB branch at Kathaltoli had become an integral part of the villagers’ lives. Apart from routine banking services, it used to play a role in the formation and management of self-help groups in this backward area, bordering Tripura.

For senior citizens, the hassle of going to Patherkandi just to collect their pensions every month has become too much to bear.

“There is no other bank in the neighbourhood to which I can shift my account. I am helpless,” a pensioner said.

A group of residents recently petitioned Prime Minister Manmohan Singh, finance minister P. Chidambaram and the PNB head office to reconsider the decision to shift the branch. They will wait for a response till the end of this month and go ahead with their agitation plans if the branch is not brought back.

Ironically, the signboard of the Patherkandi branch reads “Punjab National Bank, Kathaltoli Branch, Patherkandi”.

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