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Cash crunch: Chandrababu slams bankers for lax attitude

Cash crunch: Chandrababu slams bankers for lax attitude

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday night came down heavily on the bankers, saying their lax approach was causing problems in the wake of demonetisation.
“There are reports that people are dying in queues at ATMs and banks. This is very sad. I shouldn’t hear such news anymore,” the Chief Minister warned at a review meeting with bankers on the currency crisis late this evening.
In this hour of crisis, bankers should shed their usual business approach and work with people’s welfare in mind, he said, according a press release. “You are not coming up as fast I want to ease the crisis. As bankers you may not have any problem but the government is facing problem,” he said.
A lot of damage was being done because of the bankers’ laxity in disbursal of cash and also in appointment of banking correspondents, he said. The Chief Minister asked bankers to take police’s help in confiscating 13,000 Point of Sale machines that were not being used by merchants. He wanted those machines to be given to other merchants.
“This is your responsibility to ensure that PoS machines are put to use,” he added. Andhra Pradesh is expected to receive Rs 500 crore cash on Thursday, of which Rs 300 crore would be in the new Rs 500 notes.
The Chief Minister said he wanted the entire amount distributed only to pensioners.

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