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Serpentine queues at banks, ATMs
Vijayawada: In spite of Chief Minister N Chandrababu Naidu\'s initiative to encourage cashless transactions, finance majors are going against the grain by not allowing borrowers to pay through cards. They are insisting on cash payments much to the surprise of the EMI payers. The Union and State governments are campaigning on digital economy for reducing demonetisation problems, but most of the
Vijayawada: In spite of Chief Minister N Chandrababu Naidu's initiative to encourage cashless transactions, finance majors are going against the grain by not allowing borrowers to pay through cards.
They are insisting on cash payments much to the surprise of the EMI payers.
The Union and State governments are campaigning on digital economy for reducing demonetisation problems, but most of the traders and private finance companies are not at all utilising the swiping machines at their business centres for transactions.
One of the woman employees in a private finance company said on Tuesday that the finance company was taking only new currency notes from the customers for paying EMIs.
Vijayawada Municipal Corporation appointed M V V Satyanarayana as a project officer for creating awareness among the people in the city on cashless transactions.
Satyanarayana said that the smart ward special officers and division team leaders will visit wards on Wednesday for creating awareness on cashless transactions among the public.
People are waiting for more than two hours at banks and ATMs for drawing money.
All bank ATMs hung 'No Cash' boards to the ATM entrance gates up to 11 am on Tuesday.
The ATMs remained closed from Saturday onwards due to shortage of cash.
