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
July 25,2020

Bengaluru, Jul 25: Former Karnataka Chief Minister Siddaramaiah on Friday said that the ministers of the BJP-led government in the state avoiding a judicial enquiry into the alleged corruption in procurement of medical essentials "is their height of arrogance".

In a series of tweets, Siddaramaiah said, "Why is the government afraid of judicial enquiry on corruption in procurement of medical essentials? If the ministers are so clean, what is holding them back from initiating investigation? This is their heights of arrogance!!"

He said that there should be a judicial enquiry by a sitting High Court Judge to let people know the facts.

"We will submit our documents and let the government submit their documents. If they are confident, why are they reluctant to initiate an investigation?" Siddaramaiah asked.

"Statment from the PMO says 50,000 ventilators are procured at a rate of Rs 4 lakhs per unit. Is this not true? Will Karnataka BJP ministers say that ventilators under PM CARES are sub-standard and lack quality?" he said.

"There will be both basic and premium models in everything. Even the PMO could have bought Rs. 18 lakh worth ventilator. Why did they buy a Rs 4 lakh worth ventilator? What is the justification from ministers for this?" he questioned.

Siddaramaiah asked that if the Medical Education Department sent a proposal worth Rs 815 crores which is not recomended by experts.
"It is true that Medical Education department has sent a proposal worth Rs 815 crores. It is also true that there is a note on the proposal which says that these are not recommended by experts. What is the significance of this note?" he tweeted.

The former Chief Minister said that if the state government is saying that if ventilators were procured during the tenure of Congress-JD(S) government, they must produce the proof.

"They are accusing us for the ventilators procured during the coalition government. I was not in the government then. If they have documents, let them investigate about that also. Let the truth be revealed," he said.

The Congress leader said that the opposition is not interested in playing politics during the time of COVID-19 pandemic.

"We are not interested in doing politics during COVID-19 pandemic, which is why we have not taken up many other pressing issues. But how can we be quiet when hundreds of people are succumbing due COVID-19 mismanagement?" he asked.

Karnataka on Friday reported 5,007 more COVID-19 cases and 110 deaths. The total number of cases in the state stands at 85,870, including 52,791 active cases and 1,724 fatalities, said the state government's bulletin.

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News Network
June 2,2020

Mangaluru, Jun 2: The Karnataka Muzarai department, whose main income comes through temple and other religious places of worship, has incurred a loss of Rs 600 Crore in revenue during the lock-down, Minister for Muzrai Kota Srinivas Poojary said on Monday.

Addressing reporters here, he said the Kollur Sri Mookambika temple alone lost revenue of about Rs 14 crore it was earning during April and May.

Around 300 A and B grade temples under Muzrai (Hindu religious institutions and charitable endowments) department in the State lost around 35 per cent of their annual income, he said.

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News Network
June 21,2020

Kannur, Jun 21: Customs sleuths on Sunday seized 432 grams of gold worth around Rs 20 lakh from a passenger who arrived at Kannur International Airport from Dubai in Fly Dubai flight, scheduled under Vande Bharat Mission.

Customs Assistant Commissioner E Vikas-led team seized the smuggled gold from the passenger Usman of Malappuram district and detained him, sources said.

The seized gold was kept in his inner-wear.

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