Banks turn to temples, liquor shops for small-value notes

December 1, 2016

Bengaluru, Dec 1: Bengalureans are a worried lot as they get ready for a new month starting Thursday. As the government fixed a ceiling on withdrawals after the demonetisation of Rs 1,000 and Rs 500 notes on November 8, people fear banks and ATMs will see unprecedented rush from December 1 onwards.

Banks“I have only Rs 300 left in my wallet. I might get my salary tomorrow. But how will I withdraw money? I am sure the queues will only be longer and the ATMs would run out of cash in no time as many would line up there,” Anuradha, a resident of Indiranagar, said.

Dhananjay Gowda is worried that he will have to stand in the long queue for the fourth time in the last one month. This time, he fears it can be longer as it is the beginning of the month. Now, he has to withdraw Rs 5,000 to pay the rent towards his flat that he shares with his friends.

“I am obliged to pay the rent on time. But, this would mean standing in the queue at ATMs thrice as I cannot withdraw Rs 5,000 at once. All these days, I have survived on just Rs 500 and have had to cut down on several expenses,” he added.

To meet the increasing demand for notes, especially the lower denomination ones, banks are now looking at temple trusts and liquor shops to come to their rescue. Usually, temple managements deposit money on special occasions.

The banks have now asked them to deposit cash at regular intervals. As liquor shops under Mysore Sales International Limited (MSIL) also see a good tendering of cash in lower denominations, the banks have put forth similar requests to the company as well.

M K Narasimha Murthy, general secretary, All Indian Bank Employees' Association, Karnataka, said that banks are now approaching temple managements and are persuading them to deposit cash regularly to help meet the increasing demand.

“At present, new notes are in circulation. From every liquor shop, at least Rs 2 lakh is being deposited to the MSIL accounts every day. This has helped ease the situation a bit,” he said.

Murthy said that even as the limit for transaction has been capped at Rs 24,000 per person at present, banks are in a situation to give only Rs 5,000. “Even if a person comes with a cheque for Rs 20,000, the entire money can't be given,” he said.

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Rikaz
 - 
Thursday, 1 Dec 2016

Banks are begging....this is the first time I have seen this kind of change.....in banks attitude....

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News Network
May 26,2020

Newsroom, May 26: A migrant worker died of hunger while a 10-month-old boy suffering from fever and breathing difficulties died negligence in two separate incidents onboard Shramik Special trains in Uttar Pradesh.

The 46-year-old dead migrant worker’s nephew, who was accompanying him, said that the victim had not eaten anything in the last 60 hours.

Raveesh Yadav said that no food or water was provided on the train, which they had boarded from Mumbai to travel to their native place in Jaunpur district in Uttar Pradesh.

Yadav and his uncle were working as construction workers in Mumbai.

Yadav told the paper that the train had left the Lokmanya Terminal in Mumbai, at 7pm on May 20 and arrived at its final stop, Varanasi Cantonment station, at 7.30am on May 23.

“But my uncle, who was complaining of hunger and pain all over his body, fainted half an hour before we reached Varanasi Cantonment and died within a few minutes,” Raveesh was quoted as saying.

He added that he and his uncle were hungry when they boarded the train but could not find food or water to buy.

Railways’ apathy

Meanwhile, the family of 10 month old child, who died in the train, alleged that the railways did not arrange for a doctor despite their repeated pleas.

The railway doctors had been moved to Covid-19 hospitals and by the time a doctor was provided at Tundla railway station, it was too late, the report quoted the child's grandfather, Dev Lal, as saying.

Lal said that the family members had tried to speak to the GRP at many stations, including at Aligarh, where the train had halted. "But they showed no interest and said any help would be available only in Tundla,” Lal said.

Railways officials then took the kin to a quarantine centre in Tundla, as they suspected that the baby had died because of the novel coronavirus.  It was only on Monday that the incident came to light when another individual at the quarantine facility intimated journalists after the condition of the child's mother worsened.

Last November, the mother of the child, Priyanka Devi of Bihar's Notan village in West Champaran, had gone to visit her parents who reside in Noida with the baby, who was then just four months old. Her husband Pramod Kumar is a farmer, the report added.

Comments

andh bakth
 - 
Tuesday, 26 May 2020

Vote for BJP and you need only hindutva dont worry about food, job etc.......jai modiji

very sad for baby:(

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Media Release
March 8,2020

Mangaluru, Mar 8: The Saraswat Co-operative Bank Ltd., celebrated International Women’s Day with a special seminar on Financial Planning for the banks’ women customers. The programme was held on Friday, March 6, 2020 from 4.00 to 6.00 p.m. at Hotel Ocean Pearl Inn, Bejai, Mangalore. Dr. Sukanya Rao, academician and financial planner, was the chief guest and resource person for the seminar. Mr. Srinivas C., Karnataka State Head, Future Generali India Insurance Company Ltd., was the guest of honour.  Mrs. Vimala Anchan, Senior Manager and Branch Head of M. G. Road Branch of Saraswat Bank presided over the function.

In her chief guest’s address, Dr. Sukanya Rao defined empowerment of women as the ability of take one’s own decisions and utilize resources. Quoting global rankings, she said India enjoys a high ranking of being 9th in the world in political empowerment of women, whereas in other sectors we stand abysmally low. In social empowerment of women, India ranks at 120th, in economic empowerment at 124th and health and survival at 135th.

She suggested that the best tool for enhancing these empowerment rankings is education, which will lead to earning potential and result in enhancing social status. “Every year spent in school boosts girl’s wages by 10-20%,” she said “When a girl receives 7+ years of education, marriage gets postponed by four years and she has 2.2 less children.” She advised women to learn to take one’s own decisions. “Learn to take decisions, especially financial decisions, on your own instead of depending on significant others to do the decision making,” she said.

She followed up her talk with an interactive session on personal financial planning. She enlightened the audience on factors influencing our financial decision making and gave different perspectives on prioritizing savings, spending and investment. 

Srinivas C., Karnataka State Head, Future Generali India Insurance Company Ltd., along with Deepak enlightened the women regarding financial safeguards available under Married Women's Property Act (1874).

Established in 1918, Saraswat Bank was the first co-operative bank to provide merchant banking services after it was recognized as a scheduled bank by RBI in 1988. The bank enjoys high proportion of women employees (nearly 75%) and it is a recipient of Best Cooperative Bank Award in 2016.

Fun games were conducted and prizes were distributed to the winners. Bhavanthi Street Branch Head Karthik Shetty welcomed the gathering. Prithvi Pai and Aishwarya rendered the invocation. Naina Shenoy expressed the bank’s Women’s Day greetings. Chilimbi Branch Head Kishore Shetty gave a vote of thanks. Mahesh Nayak compered the programme. Past Branch Head Mamtha Rao was present.

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News Network
March 14,2020

Mangaluru, Mar 14: Following the avian flu outbreak in neighboring Kerala, authorities at Pilikula Biological Park in Moodushedde, on the outskirts of the city, have taken all precautionary measures to prevent the death of birds in the park.

Park Director H J Jayaprakash Bhandari said that "the behaviour of the birds is being monitored near open water sources on the premises'.

Though no deaths were reported in the Zoo or on lake premises, the staff continue to maintain a strict vigil on open water sources like lakes. He said the Park was being sanitized.

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