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.

Comments

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
February 4,2020

Mangalore, Feb 4: Following the directions of the University Grants Commission (UGC) to use khadi for convocations and other events in universities and colleges, Mangalore University has decided to use khadi-silk for ceremonial robes.

The amendments to the statute governing convocations for conferring degrees were approved in the Academic Council meeting.

Mangalore University Registrar Prof A M Khan said on Tuesday that the colour of the gown of the chancellor will be rich dark red or vermilion and the ‘angavasthram’ will be of gold with blue border.

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coastaldigest.com news network
May 27,2020

Bengaluru, May 27: A yet incomplete state-wide survey has revealed that there are over 53.99 lakh households vulnerable to the infection in Karnataka. The survey is being conducted by the government to find COVID-19 vulnerable population particularly with comorbidities and cases like SARI and ILI.

The survey, which is 67.16% complete so far, finds 1.37 lakh households across Karnataka have people with comorbid conditions, excluding a further 13,341 households with symptoms of Influenza Like Illness (ILI), Severe Acute Respiratory Infection (SARI) and Covid-19.

Over 48 lakh households have senior citizens, who on account of their age are at highest risk of death from the disease.

Munish Moudgil, Director of the State COVID War Room, clarified that households could have multiple types of vulnerable people. According to the survey data (which is dated May 26), Kalaburagi and Bengaluru Urban have the highest cases of SARI, ILI with 1,902 households and 1,703 households respectively, although these numbers are likely to rise, as the survey is still incomplete in these districts. 

A BBMP source said that 68% of the survey has been completed in the city, but the data has not been logged yet. The number of SARI/ILI cases is next highest in Shivamogga with 1,217 households, Mysuru with 1,200 and Davangere with 1,178.

The government regards SARI and ILI as indicators of coronavirus and on April 17, had passed an order instructing healthcare workers to test people with these conditions for the coronavirus. Consequently, 51 COVID-19 cases were discovered by testing people with these symptoms.

Belagavi, meantime, has reported the highest incidents of households with comorbid conditions with 12,427 identified so far, followed by Mandya with 9,289, Kalaburagi with 8,311, Shivamogga with 8,140 and Bengaluru Urban with 7,562. Importantly, 3,45,443 vulnerable people have been identified in Bengaluru Urban within 28.26% of data logged in so far.

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News Network
May 17,2020

Bengaluru, May 17: Karnataka on Sunday extended lockdown for two days until midnight of Tuesday, May 19. Earlier today, Tamil Nadu and Maharashtra extended the lockdown till May 31. The state government said that the guidelines and norms as followed during Coronavirus Lockdown 3 will remain in place till 19th midnight or till further notice.

Meanwhile, the total number of coronavirus cases in Karnataka rose to 1,146 on Saturday. With 37 deaths and 497 discharges, there are 611 active corona cases in the state. 

Out of 54 new cases, twentytwo are from Mandya, ten from Kalaburagi, six from Hassan, four from Dharwad, three each from Yadgir and Kolar, two each from Dakshina Kannada and Shivamogga, and one each from Udupi and Vijayapura.

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