CM Patnaik's bank move for cash supply in rural areas

The Chief Minister instructed Odisha banks to ensure adequate supply of Rs 500 and Rs 100 denomination currency to rural areas.

Published: 14th December 2016 04:28 AM  |   Last Updated: 14th December 2016 04:28 AM   |  A+A-


Odisha Chief Minister Naveen Patnaik (File|PTI)

By Express News Service

BHUBANESWAR: As scarcity of cash is affecting farming activities, Chief Minister Naveen Patnaik on Tuesday directed the regional office of the Reserve Bank of India here and major commercial banks operating in the State to ensure adequate supply of Rs 500 and Rs 100 denomination currency to rural areas.

The Chief Minister gave the direction to the central bank when district Collectors informed him about acute cash crunch in rural areas and non-availability of Rs 500 and Rs 100 notes. Post-demonetisation, the Chief Minister reviewed the progress of paddy procurement, disbursement of crop insurance claims and drought assistance to farmers and Rabi operation with collectors of four districts - Balangir, Cuttack, Ganjam and Sambalpur - through video conference here.

With little improvement in the cash flow to rural areas, the Collectors said the prevailing cash situation has caused serious liquidity problems for the farmers who badly need money to buy seeds, fertilisers and pay wages for farming activities.

While directing Chief Secretary AP Padhi to review the impact of demonetisation on agriculture and on rural population on regular basis, the Chief Minister said he will draw the attention of the Central Government for taking remedial measures to overcome the crisis.

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