ALSO READExcise exemption on PoS device manufacturing till March'17 Digital payment the future of financial transactions: Arun Jaitley AAI resumes airport car park charges by e-payment from Tuesday New vehicles to have digital tags for paying toll CSCs to offer digital financial literacy in rural India
With pay-day having arrived and salaries expected to be disbursed to employees across the country, Minister of State for Finance Santosh Kumar Gangwar on Thursday appealed to the people to move towards digital modes of payment.
Assuring people that there is no shortage of cash, Gangwar told ANI there is no need for people to worry.
"I would also like to appeal to the people to move towards digital payment. If you have a credit card and a debit card, then please use them. Don't only focus on withdrawing money from ATMs. We are living in global village, we should also move towards a Digital India," he said.
"There is no need to worry. We know that it is salary day, so, we made arrangement that all the employees can take out 10,000 rupees. It is obvious that you will see people waiting in queue because it is salary day. We have made all the arrangements. There are statements from the bank and the RBI also that there are sufficient cash and 100, 500 and 2000 notes," he added.
With demonetisation leading to a currency crisis in the country, the first pay day after the move has led to speculations of how the government is going to handle the cash distrubution.
According to the Reserve Bank's order, a person can withdraw Rs.24,000 against a withdrawal slip or cheque subject per week, including ATM and bank withdrawals.
However, the shortage of cash has forced banks to cap the withdrawal limit as per their fund availability to cater to maximum customers.
With many bank branches getting half of the cash required, on a daily basis, unions had earlier asked Indian Banks' Association to advise banks to ask for police protection in branches to provide proper security to the staff.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)