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
May 15,2020

Mysuru, May 15: The Temple Town of Nanjangud was till now treated as one unit or a Cluster Containment Zone and was put under complete lock-down as per the containment protocol listed under COVID-19 regulations and Disaster Management Act, 2005.

However on Friday, some of the restrictions have been lifted by Mysuru Deputy Commissioner Abhiram G Sankar who permitted certain activities as no fresh positive cases were reported from the cluster area. The Cluster Containment Zone was declared on March 29 following one employee of Nanjangud-based Jubilant Generics tested positive for the killer Coronavirus. As there were chances of the positive person spreading the disease to other employees of the factory, the cluster rules were enforced. Moreover, there were over 1,000 employees in the Pharma Company and a majority of them lived in and around Nanjangud.

The declaration of Cluster Containment Zone with complete lock-down and quarantining of all the Pharma Company employees proved a success to the District Administration as whoever tested positive – over 73 were later tested positive — had already been quarantined and the dangerous community spread phase was successfully prevented. To a major extent, the Corona virus curve has been flattened. As such, restrictions have been relaxed a bit on Friday.

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News Network
August 4,2020

Bengaluru, Aug 4: With preparations underway for conducting exams for the final semester/ year students in the state, Karnataka Deputy Chief Minister Dr CN Ashwathnarayan on Monday directed the respective universities to conduct exams for the backlog papers as well.

"In the wake of COVID-19, it has been decided to hold exams only for the students of final semester/year courses. It has come to our notice that some universities have decided against conducting exams for final year students who have a backlog to clear from previous semesters. This is unpardonable," the Deputy Chief Minister said.

"Our intention is to see that the final year students finish their course. In the present situation, conducting only final semester exams won't help. We have to help the students in clearing their backlogs," added Ashwathnarayan, directing all universities to compulsorily conduct these exams.

Meanwhile, Ashwathnarayan thanked the staff and officials of various government departments who were responsible for successfully conducting the CET exams even amidst the difficult situation in the wake of COVID-19 pandemic.

"In all, 1,94,419 students had registered for the CET exams, of which 1,75,428 wrote the exams. The percentage of students who took up the exams this year was equivalent to that of the previous years, in normal times," the DCM informed.

"After we successfully conducted the exams, Arunachal Pradesh is going to conduct the Public Service Commission exams on the lines of how we successfully conducted the exams. Likewise, even our KPSC has said it will conduct the exams. We must appreciate the good work of the Karnataka Examination Authority (KEA), which has set an example for others," Ashwathnarayan said.

The deputy chief minister said that 33 colleges in various districts across the state faced shortage of land and that it is the responsibility of the District Commissioners (DCs) to get the lands sanctioned for all these colleges.
In Bagalkot district alone land has not been sanctioned for six degree colleges, he said.

Reacting to this, Bagalkot DC Captain Rajendra assured to look into the matter as soon as he receives the proposal from department officials.

"Similarly, there is shortage of land for five Diploma colleges and 28 ITI colleges in different parts of the state. The DCs must immediately pay attention to this. Once they get the land, buildings will come up within no time," the Karnataka deputy chief minister said.

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Agencies
January 9,2020

Alappuzha, Jan 9: The houseboat of Nobel Laureate Michael Levitt was blocked in the backwaters here for some time by trade union activists, who were on a nationwide strike against the Centre's "anti-labour" policies on Wednesday.

Michael Levitt, an American-British-Israeli biophysicist and a professor of structural biology at the Stanford University in the United States, said the incident sent a bad message to tourists.

Levitt, who was in Kerala as a state guest, also said he felt as if a bandit had stopped his wife and him at gunpoint. Police said Levitt, who received the 2013 Nobel Prize in Chemistry, was in Alappuzha with his wife and they were stopped by the protesters near Kainakary.

"Being stopped by criminals on the backwaters sends a very bad message to tourists. It is as if a bandit stopped us at gunpoint and delayed us under the threat of force for one hour," Levitt wrote in an email to his tour agent at Kottayam.

In the email, which was later released to the media, he also said the person who blocked them "ignored all arguments that tourists were exempted" from the strike.

"This person, who did this, ignored all arguments that tourists were exempted and that I am a VIP guest of the Kerala government. He was obviously acting, knowing that he was safe from prosecution. Sadly, this makes me fear that India is sinking into lawlessness," Levitt wrote in the email.

The police registered a case after the houseboat owners filed a complaint in this regard.

Reacting to the incident, state Tourism Minister Kadakampally Surendran said the government would take strong action. "Strong action will be taken against those anti-social elements who stopped the boat. Levitt was here as a guest of the state government. The government had made it clear that the tourism industry was exempted from the strike," he said.

Trade union leaders had also announced that the strike would not affect the tourism industry.

Ten trade unions, including the INTUC, the AITUC and the CITU, had called for the nationwide strike to protest against the labour reforms, FDI, disinvestment, corporatisation and privatisation policies of the Centre and press for a 12-point demands of the working class, relating to minimum wage, among others.

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