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Cash flow problem is only temporary: SBI manager
People are facing problems to withdraw cash in the light of Centre encouraging cashless transactions following demonetisation, State Bank of India, district branch manager G Tara Sankara Rao has said. However, he said the rush at the ATMs was only a temporary phase.
Kothagudem: People are facing problems to withdraw cash in the light of Centre encouraging cashless transactions following demonetisation, State Bank of India, district branch manager G Tara Sankara Rao has said. However, he said the rush at the ATMs was only a temporary phase.
Talking to The Hans India on Thursday, the manager attributed the shortage of cash to the Centre’s efforts to encourage cashless transactions. “People are welcoming the cashless transactions and ordering the card swiping machines,” he said.
On account of Kothagudem district being an Agency area with problems of illiteracy and lack of awareness in handling cashless transactions, the message has been conveyed to the Reserve Bank of India through the District Collector, he said.
A programme to create awareness among people about the Point of Sale (PoS) in Illendu, Bhadrachalam and other places in the Agency areas were held, he added.
PoS machines were being delivered to the applicants in three weeks, the manager said, dismissing the rumours of Rs 10 coin stopped to be legally tender.
Crop loans to the eligible farmers are being issued as per the new guidelines, he said, clarifying that there is no partisan attitude on the part of banks in advancing the loans.
