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Let people use Rs 500, Rs 1000: Etala to Bankers

Let people use Rs 500, Rs 1000: Etala to Bankers

Finance Minister Etala Rajender today instructed the bankers to focus that common people do not face problems in the wake of demonetization of  Rs 500 and Rs 1000 currency notes. He expressed concern that the scrapping decision has adverse affect on various sectors, business and industry and    the common man is facing a lot of problems. At a video conference with Chief Secretary, Dr Rajiv Sharma, Bankers and district collectors at Secretariat here the finance minister asked the former to see that marriages do not suffer due to the central decision and see if they can allow drivers of auto-rickshaw pullers, DCMs and other vehicles and common man to use old notes to purchase goods besides making timely payment for daily wage workers. He also asked to take steps to prevent any sort of revolt from people against the government. Thus he asked the bankers to adequate money including small notes in the banks and distribute the same to the people in a hassle free manner. He asked the bankers to increase the limit of withdrawals Rs 4500 a day and loan amount of Rs 50000 to small businessmen and more clarity on depositing 2.50 lakhs at one go. In districts the banks should have small notes in more numbers enabling the people make purchases.

Rajiv Sharma stated that the people can make use of old Rs 500 and Rs 1000 notes for purchases till Nov 24. We have asked the officials and bankers to see that these notes are used in open market in a hassle free manner he said. Government has taken all steps to make payments, pay taxes and any sort of monetary exchanges using high value demonetized notes. He also asked the bankers and officials to make wide publicity about the availability of funds to avoid panic.(NSS)