HYDERABAD: To tackle the shortage of small denomination currencies, the State government swung into action and asked bankers to improve the circulation of small currency notes across the State.
The offerings made by devotees in various temple, mostly in the form of small currency notes, should be put back in circulation by the bankers so that the currency shortage problem could be averted to some extent, principal finance secretary K Ramakrishna Rao said at a video conference with district collectors.
Ramakrishna Rao directed bankers to set up separate counters at all banks for exchange and withdrawal of cash.
Bankers were also asked to regularly monitor the stocks of small currency notes on a daily basis.
The collectors were asked to introduce online payment system at market yards for purchase of fertilisers and other agricultural inputs.
Finance minister Etela Rajender urged bank officials to explore ways to extend Rs. 5 lakh cash to those people who have marriages in their families in the next few days.
Chief secretary Rajiv Sharma was also present.
No law and order problem
Chief secretary Rajiv Sharma said that the Union cabinet secretary and other secretaries from the Central government were in regular touch with the state government.
“All the problems being faced by the people due to demonetisation were brought to the notice of the Union cabinet secretary. We have informed the Central government that there is no law and order problem in the state. But, the problem that people are facing is shortage of cash in ATMs,” Rajiv Sharma said.
Rajiv Sharma said that he requested the Union cabinet secretary to see that there was no shortage of money for Cooperative Banks so that the farmers would be sanctioned loans for the next Kharif season. The Cooperative Banks too should be allowed to accept old currency notes as deposits.
Finance secretary Navin Mittal wanted the bankers to see that the new Rs. 500 notes were available across Telangana immediately.
SBI chief general manager Hari Dayal RBI general manager Meghnath and others were present at the video conference.