From The Hindu, February 20, 1975: Uncleared cheques pile up in Bombay

Bombay, Feb.19: The Clearing House work has remained suspended along with all other normal banking and financial functions of the Reserve Bank Headquarters and its allied offices in Bombay, as a “no dusting of furniture” agitation, launched by the subordinate staff, snowballed into a “no-dusting-no-work” resolve by the clerical staff, supervisors and officers. The latter are already on “work-to-rule” for the past two weeks demanding increased dearness allowance.

Layers of dust gathered on tables, chairs, files and almirahs in the RBI Headquarters and allied offices, including those of the Industrial Development Bank of India, Agricultural Refinance Corporation, Unit Trust of India, Credit Guarantee Corporation and Deposit Insurance Corporation. Hardly any work is done by the staff and no files are moving. No public counters at the RBI are open, and no currency is issued to the public nor cash to the banking sector.

The complete stoppage of clearance of Bombay cheques, affecting also upcountry cheques as they come, coupled with non-issue of cash by the RBI, has disrupted the working of the banking sector, according to financial circles.