Centre urged to ensure supply of lower denomination notes

Amaravati: After experiencing lack of cash in ATMs across the State, the State government has been demanding that the Central government should impose ban on Rs 500 and Rs 2000 currency notes and ensure adequate supply of lower denomination notes.

The State government is finding fault with the Centre for its inability to ensure proper circulation of the cash. It also demanded the Centre should ensure sufficient supply of lower denomination notes like Rs 100, Rs 200 and others to solve public problems.

Speaking to The Hans India, Minister for IT Nara Lokesh said that the Central government totally failed in providing liquid cash for general transactions. He demanded removal of higher denomination notes.
The Minister said that the common man was suffering a lot in the State and even the pensioners could not withdraw money from ATMs and banks.

Meanwhile Union Finance Minister Aurn Jailey had stated in his Twitter account that the demand in some areas had resulted in temporary shortage of currency notes. He said, “We have reviewed the currency situation in the country. Over all there is more than adequate currency in circulation and also available with the banks. The temporary shortage was caused by ‘sudden and unusual increase’ in some areas is being tackled quickly.”

Reacting on Arun Jaitley’s tweet, Nara Lokesh retweeted that at least they accepted that there is shortage of money in circulation. He further added that the State government brought the issue of shortage of cash in the State to the Central government’s notice several times in the past. The Central government should solve the problem of shortage of cash.

Blaming Arun Jaitley for not solving the problem, Lokesh stated that unfortunately, he was not understanding the reality in Andhra Pradesh and saying everything was alright. Disclosing the fact that the AP government is not able to even give pensions and pay wages to the MGNREGS workers, Lokesh lambasted the Union Finance Minister for not being aware of the problems of the common man.

In fact, Chief Minister N Chandrababu Naidu sent several letters to Arun Jaitley, explaining the currency problems in the State, particularly after the ban was imposed on old notes of Rs 500 and Rs 1000.

Lokesh pointed out that it was Naidu who had earlier recommended to the Centre to ban Rs 500 and Rs 1,000 notes to eliminate corruption in the country. Naidu suggested supply of lower denomination notes and promotion of digital transactions in the country.

The public in the State are facing severe problems due to the shortage of cash in the ATMs, including Rs 100, Rs 200, Rs 500 and Rs 2000 denomination notes.

K Srinivasa Rao, a resident of Guntur, said that he went to SBI, HDFC, ICICI and other bank ATMs in the city on Monday and Tuesday but was unable to withdraw cash.

He also expressed concern over banks imposing restrictions on usage of cards at the ATMs and collecting hefty charges subsequently.

“The bankers are collecting penalty fee from customers for not maintaining minimum balance in the banks, then they have to pay penalty for not maintaining money in the banks and ATMs,” he said.

By: M Sambasiva Rao