Finance Minister Eatala Rajender on Tuesday said that out of Rs 20,000 crore, Telangana so far received Rs 17,500 crore comprising 96 per cent of Rs 2,000 notes while only 4 per cent were in smaller denomination.
Speaking at a meeting of bankers and RBI officials here, Rajender said that the people were facing severe hardships due to non-availability of currency in smaller denomination. He demanded the RBI to pump in Rs 5,000 crore in smaller denomination to Telangana to overcome the shortage of small currency notes.
The finance minister expressed shock over diversion of crores of rupees in the form of Rs 2000 notes by middlemen. He alleged that some bank officials colluded with brokers to divert new currency and demanded the Centre to punish all those involved in the diversion of new currency to influential persons.
Rajender said that the state government has taken numerous steps to convert Siddipet into cashless town and was encouraging people to opt for cashless transactions.
Union Minister Bandaru Dattatraya, TS Home Minister Nayani Narsimha Reddy, RBI officials and others were present. (INN)