TS Govt Seeks Rs 5000 cr In Small Denomination

Expressing shock and surprise over diversion of thousands of crores of Rs 2000 notes by some vested interests, TS FM Eatala Rajender today attributed it to the bank officials colluding with influential people. Since hoarding of the new currency was causing serious problem for the people, he demanded the RBI to punish those involved in such malpractices.

He told that RBI should pump at least Rs 5000 crore in small denomination to Telangana State to overcome the prevailing currency problem and enigma of small notes.

Addressing a Bankers meeting attended by Union Minister Bandaru Dattatraya and Home Minister Nayani, RBI and other officials here on Tuesday, Eatala said that out of Rs 20,000 crore, Telangana State so far received Rs 17,500 crore comprising 96 per cent of high denomination and only 4 per cent of low denomination.

As part of cashless transactions drive followed by Chief Minister, K Chandrasekhar Rao Siddipet turned into a cashless town and efforts are being made to ensure that the people make use of digital transactions.

About 83.37 crore families have bank accounts (including active and inactive) in the State, about 30 lakh families are still to get bank accounts.