You are here: Home » PTI Stories » National » News
Business Standard

Heavy rush in banks, treasuries continues in Kerala

Press Trust of India  |  Thiruvananthapuram 

Banks and treasuries in are witnessing heavy rush and serpentine queues today for the second consecutive day, with people queueing up to withdraw salaries and pensions.

The state had asked RBI to release Rs 127 crore to meet the demand for distributing salaries and pensions, but received only Rs 57 crore till 11 AM, official sources here said.



As many as 50 treasuries are yet to receive any amount and the treasury employees are waiting at the banks to get the money released, they said.

Irrespective of cities and villages, senior citizens, including women, could be seen queueing up before treasuries to withdraw monthly pension since early morning.

A elderly man, who queued up before a suburban treasury here, said he travelled over 10 kms to reach the treasury to collect his monthly pension but was told that there was no money.

Another pensioner said she was queueing up since 5 am before the treasury.

Protesting the fund crunch in treasuries and difficulties faced by people, around 50 employees, under the aegis of NGO association, took out a march to the district treasury here.

Meanwhile, state Finance Minister T M Thomas Isaac said in New Delhi that the was considering a plan to shift the accounts of state PSUs, including that of State Beverages Corporation, to district cooperative banks, with an aim to resolve the crisis faced by the cooperative sector in view of the Centre's demonetisation move.

"Many public sector undertakings including Beverages are getting fresh currencies. In my opinion, it is better to deposit the amount in cooperative banks. A final decision in this regard will be taken after discussing it with Chief Minister Pinarayi Vijayan," he told reporters.

About Rs 3,000 crore is needed every month to disburse salaries to servants and pensioners in Kerala.

The strength of salaried employees and pensioners in the state is over five lakh each.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Heavy rush in banks, treasuries continues in Kerala

Banks and treasuries in Kerala are witnessing heavy rush and serpentine queues today for the second consecutive day, with people queueing up to withdraw salaries and pensions. The state government had asked RBI to release Rs 127 crore to meet the demand for distributing salaries and pensions, but received only Rs 57 crore till 11 AM, official sources here said. As many as 50 treasuries are yet to receive any amount and the treasury employees are waiting at the banks to get the money released, they said. Irrespective of cities and villages, senior citizens, including women, could be seen queueing up before treasuries to withdraw monthly pension since early morning. A elderly man, who queued up before a suburban treasury here, said he travelled over 10 kms to reach the treasury to collect his monthly pension but was told that there was no money. Another pensioner said she was queueing up since 5 am before the treasury. Protesting the fund crunch in treasuries and difficulties ... Banks and treasuries in are witnessing heavy rush and serpentine queues today for the second consecutive day, with people queueing up to withdraw salaries and pensions.

The state had asked RBI to release Rs 127 crore to meet the demand for distributing salaries and pensions, but received only Rs 57 crore till 11 AM, official sources here said.

As many as 50 treasuries are yet to receive any amount and the treasury employees are waiting at the banks to get the money released, they said.

Irrespective of cities and villages, senior citizens, including women, could be seen queueing up before treasuries to withdraw monthly pension since early morning.

A elderly man, who queued up before a suburban treasury here, said he travelled over 10 kms to reach the treasury to collect his monthly pension but was told that there was no money.

Another pensioner said she was queueing up since 5 am before the treasury.

Protesting the fund crunch in treasuries and difficulties faced by people, around 50 employees, under the aegis of NGO association, took out a march to the district treasury here.

Meanwhile, state Finance Minister T M Thomas Isaac said in New Delhi that the was considering a plan to shift the accounts of state PSUs, including that of State Beverages Corporation, to district cooperative banks, with an aim to resolve the crisis faced by the cooperative sector in view of the Centre's demonetisation move.

"Many public sector undertakings including Beverages are getting fresh currencies. In my opinion, it is better to deposit the amount in cooperative banks. A final decision in this regard will be taken after discussing it with Chief Minister Pinarayi Vijayan," he told reporters.

About Rs 3,000 crore is needed every month to disburse salaries to servants and pensioners in Kerala.

The strength of salaried employees and pensioners in the state is over five lakh each.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Heavy rush in banks, treasuries continues in Kerala

Banks and treasuries in are witnessing heavy rush and serpentine queues today for the second consecutive day, with people queueing up to withdraw salaries and pensions.

The state had asked RBI to release Rs 127 crore to meet the demand for distributing salaries and pensions, but received only Rs 57 crore till 11 AM, official sources here said.

As many as 50 treasuries are yet to receive any amount and the treasury employees are waiting at the banks to get the money released, they said.

Irrespective of cities and villages, senior citizens, including women, could be seen queueing up before treasuries to withdraw monthly pension since early morning.

A elderly man, who queued up before a suburban treasury here, said he travelled over 10 kms to reach the treasury to collect his monthly pension but was told that there was no money.

Another pensioner said she was queueing up since 5 am before the treasury.

Protesting the fund crunch in treasuries and difficulties faced by people, around 50 employees, under the aegis of NGO association, took out a march to the district treasury here.

Meanwhile, state Finance Minister T M Thomas Isaac said in New Delhi that the was considering a plan to shift the accounts of state PSUs, including that of State Beverages Corporation, to district cooperative banks, with an aim to resolve the crisis faced by the cooperative sector in view of the Centre's demonetisation move.

"Many public sector undertakings including Beverages are getting fresh currencies. In my opinion, it is better to deposit the amount in cooperative banks. A final decision in this regard will be taken after discussing it with Chief Minister Pinarayi Vijayan," he told reporters.

About Rs 3,000 crore is needed every month to disburse salaries to servants and pensioners in Kerala.

The strength of salaried employees and pensioners in the state is over five lakh each.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard