Saturday , August 19 2017

K Chandrasekhar Rao seeks Prime Minister’s help to go cashless

Rao will be in Delhi on Thursday on behalf of the wedding reception of Union minister Nitin Gadkari’s daughter Ketki.

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Hyderabad: Chief Minister K. Chandrasekhar Rao is to be expected to take up the continuing demonetisation crisis and seek out the Centre’s help in the upgrade of cashless transactions in the state with Prime Minister Narendra Modi during his official visit to New Delhi. Mr Rao will be in Delhi on Thursday for the marriage reception of Union minister Nitin Gadkari’s daughter Ketki.

Sources said the government would try to find the Centre’s support in the operation of cashless transactions including making available swipe machines, refining internet services, banking system and other linked mechanism. The Chief Minister plans to see some Union ministers to discussed incomplete issues including dues from the Centre under numerous schemes.

Most rupay cards not started

PSU banks have given out 70 lakh Rupay cards in TS so far, but 45 lakh cards are yet to be initiated, which has become a major problem in launching of cashless transcations in the national. This was released by finance minister Etela Rajender at a meeting with officers and bankers at the Secretariat late on Wednesday.

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“Unless this matter is addressed on a war footing, attaining the target of cashless transactions would be problematic. Though 95 per cent of families have bank accounts as per official data, most of them exist on paper and have not been functioning for years. These issues need to be set soon,” he added.

Uttering displeasure at the RBI for not addressing the “change difficult” in the state even a month after demonetisation, he whispered, “All the banks and ATMs continue to see serpentine queues to take out money even after a month. This shows that adequate money was not supplied by RBI.”

He supposed the RBI had sent Rs 15,563 crore new cash to the state so far, of which over 94 per cent contained Rs 2000 notes resulting in severe lack of change. He urged the RBI another time to supply low value notes.

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