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
June 8,2020

Bengaluru, Jun 8: The Janata Dal (Secular) on Monday announced that former Prime Minister HD Deve Gowda has decided to contest the forthcoming Rajya Sabha elections.

"Former Prime Minister HD Deve Gowda has decided to contest the Rajya Sabha elections at the request of our party legislators, Congress President Sonia Gandhi and many other leaders of the country. Tomorrow, he will be filing nomination for the election. Thanks to the former PM for agreeing to everyone's consensus," JDS leader HD Kumaraswamy said.

The elections to fill the vacant 18 Rajya Sabha seats from seven states are scheduled to be held on June 19.

Four Rajya Sabha seats are up for grabs in the state, Congress has already nominated senior leader Mallikarjun Kharge as its candidate.

The ruling BJP will field candidates for two seats.

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News Network
April 8,2020

Bengaluru, Apr 8: In a strong show of support, Karnataka Chief Minister BS Yediyurappa stood behind the minorities in the state and said no one should target the Muslim community over the coronavirus crisis and the Tablighi Jamaat.

He said those communalising the issue will be dealt with strictly.

BS Yediyurappa was speaking to a regional media channel when he said "Nobody should speak a word against Muslims. This is a warning. If anyone blames the entire Muslim community for some isolated incident, I'll take action against them also without a second thought. Will not allow that to happen."

Since then, many have welcomed the CM's remarks including the opposition.

Former Karnataka Congress president Dinesh Gundu Rao tweeted and said that other BJP leaders should follow the Karnataka CM and that it's a welcome step.

Congress president DK Shivakumar too said he agrees with the chief minister and that no one should target one community. "The CM should also act strictly against people posting communal remarks on social media and issue an order."

Earlier, Karnataka CM BS Yediyurappa held a meeting with minority opposition MLAs and MLCs and urged them to pass the message within the community asking those who had attended the Delhi Nizamuddin Markaz event to come and get tested for Covid-19.

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News Network
March 3,2020

Bengaluru, Mar 3: Karnataka Health Minister B Sriramulu has called a meeting of top officials of his department on Tuesday following information that the man, who tested postive for novel coronavirus in Telangana had travelled from the city.

The minister in a tweet said people residing in the person's local address have been identified and are being monitored.

He also said state government has taken all precautionary measures to contain the spread of the virus.

The condition of the 24-year-old man, who tested positive for the coronavirus was stable and he was being treated in an isolated ward at the state-run Gandhi hospital in Hyderabad, the Telangana government had said on Monday.

The man, a software engineer who works here, had been to Dubai last month on an official visit, where he is suspected to have contracted the virus.

The man reached Bengaluru on February 19/20 and later travelled to Hyderabad in a bus.

Earlier, Sriramulu had said, the government has strengthened all surveillance and control measures against the spread of the virus in Karnataka.

Till date, 468 travellers from COVID 2019 affected countries have been identified and 284 are under home isolation while one admitted in selected isolation hospital, he had said.

The Karnataka Minister had also said that till date samples of symptomatic are sent for testing, out of which 240 samples were eligible for testing and 238 were reported as negative.

He added that 104 'arogya sahayavani' (health helpline) has reserved 2 seater for receiving calls and providing guidance over Coronavirus and 6,770 calls have been received and information provided.

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