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Chandrababu Naidu seeks small notes to mitigate cash crisis
As common man’s woes continue due to demonetisation, Andhra Pradesh Chief Minister N Chandrababu Naidu dashed a letter to Union Finance Minister Arun Jaitley and RBI Governor Urjit Patel to immediately release Rs 10,000 crore in smaller denomination notes to overcome the crisis in the state.
Vijayawada: As common man’s woes continue due to demonetisation, Andhra Pradesh Chief Minister N Chandrababu Naidu dashed a letter to Union Finance Minister Arun Jaitley and RBI Governor Urjit Patel to immediately release Rs 10,000 crore in smaller denomination notes to overcome the crisis in the state.
The Chief Minister said the State government is taking all kinds of measures to prevent inconvenience to the people and encouraging online transactions. The CM held detailed discussions with the bankers and officials of the Finance department at the Camp office on Friday.
Later, addressing media conference at the Command and Communication Centre in Vijayawada, the CM said: “I have already spoke to Prime Minister Narendra Modi and RBI Governor Urjit Patel and apprised them of the difficulties being faced by people of Andhra Pradesh due to demonitisation.” He reminded that he had already sent AP Finance Secretary to RBI to apprise the situation in Andhra Pradesh.
He further said ‘We have now asked the RBI to send small denomination notes of Rs.10,20,50 and 100 and new currency notes of Rs.500 to overcome the crises. He said senior citizens, physically challenged and sick people are suffering many problems at the banks to get the cash. He said the present crises can be minimized by increasing online banking, smart phone to smart phone transactions as well as using PoS machines.
He further said the Government of India should extend 80 per cent subsidy to procure PoS machines. He said officials should encourage online and mobile banking transactions to reduce the cash transactions. The banks should exempt the 1.5 per cent commission being charged on online transactions.
He said a large number of people are using smart phones, mobile phones and having bank accounts and only thing they need is training to start the online transactions. The Chief Minister said that the central government should bring reforms and provide tax initiatives to encourage online transactions.
He said though the demonetisation will yield results in the long run, but at the present juncture people are facing many problems. He felt the banks should arrange separate queue for senior citizens, physically challenged and women at bank counters. He said that the state government is ready to bring pressure on Central government for release of additional currency to prevent inconvenience to people.
