Demonetisation effect: Demand for cash-carrying vehicles, guards surges, says private security company

"We have hired more guards and drivers. But the cash carrying vehicles have special security arrangements and it is not easy to supply more than what we have,” said Prakash Shankarrao Patil of Universal Personal Security.

By: Express News Service | Pune | Published:November 20, 2016 12:49 am
Demonetisation, Demonetisation effect, Demonetisation and Security staff, demonetisation and security vehicles, Security companies news, Latest news, India news People are stacking up in long queues to withdrawn cash at ATMs across the country, triggering a huge demand from security guards to man them. (Photo for representational purpose)

Colonel (retired) Prakash Shankarrao Patil, Director, Universal Personal Security Training and Allied Services, said that after the demonetisation process started, there has been a huge increase in demand for security guards and cash carrying vehicles by the banks. “The demand is such that all our security guards and cash carrying vehicles, even in the reserve quota, are pressed into action,” he said.

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However, it is still difficult to meet the demand  and the security company has had to hire new staff and security members to meet the growing demand, he said. “We are getting calls from the banks seeking for more guards and vehicles. We have hired more guards and drivers. But the cash carrying vehicles have special security arrangements and it is not easy to supply more than what we have,” said Col Patil.

“We provide security to at least 17 different banks. We have at least 600 security guards in Pune city. Also, we have a fleet of 50 cash carrying vehicles. At least one seventh of this number of guards and vehicles used to be under reserve capacity. We used these extra number of guards and vehicles in emergency situations, such as if someone falling ill,” he said.