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Heavy rush in banks, treasuries in Kerala

Press Trust of India  |  Thiruvananthapuram 

Banks and state treasuries in are witnessing heavy rush since morning with people queueing up to withdraw salaries and pensions.

State Minister Thomas Issac said 42 treasuries in rural areas have not received any till 11.30 AM.



The had asked RBI to release Rs 153 crore for distribution of salaries and pension through the 222 treasuries in the state, but had received only Rs 75 crore till noon, he said adding treasuries in the urban areas were not facing much of a problem.

RBI had yesterday assured the state that Rs 1000 crore would be released for paying salaries and pension through banks. However, till noon only Rs 500 crore had been released, the Minister said.

In the state treasuries at the state capital, aged men and women could be seen waiting patiently for the treasury to open. An elderly woman, who had come to collect her pension, said she had come early to get her monthly pension of Rs 10,000.

"I have to get my pension today, out of which Rs 7000 has to be paid as house rent", she said.

Another pensioner, who reached the treasury at 4 AM, said they were solely dependent on pension for daily needs.

"All the earnings have been distributed to our children. Now we have only our meagre pension to fall back upon", she said wondering if they would be lucky enough to get their pension today, the first day of the salary after the Centre scrapped Rs 1000 and Rs 500 notes last month.

State treasuries would be open till 6 PM today.

Anticipating the heavy rush, Treasury Director had yesterday sought police protection for treasuries.

Issac, who visited some treasuries, said there was severe currency shortage. In Nedumangad in the outskirts of Thiruvananthapauram, since there was shortage, only Rs 5,000 was being distributed per person.

The Centre should release the balance amount today itself, he added.

No untoward incidents have been reported from any parts of the state so far, he said.

As people are panicky, they have been queueing up right from early morning to withdraw their salaries and pension, he said.

About Rs 3000 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 five lakh each.
(REOPENS MDS6)

The state unit All India Bank Employees Association said with salary and pension to be disbursed in the first week, bank branches were under extreme pressure as the existing stock of currencies with them may not be sufficient to meet the needs of customers.

This will lead to an 'explosive situation', the association said in a statement.

Unless the RBI urgently supplied sufficient quantity of currency notes, especially of low denomination, to all the banks, bank employees would be exposed to the wrath of customers for no fault of theirs, it said.

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Heavy rush in banks, treasuries in Kerala

Banks and state treasuries in Kerala are witnessing heavy rush since morning with people queueing up to withdraw salaries and pensions. State Finance Minister Thomas Issac said 42 treasuries in rural areas have not received any cash till 11.30 AM. The government had asked RBI to release Rs 153 crore for distribution of salaries and pension through the 222 treasuries in the state, but had received only Rs 75 crore till noon, he said adding treasuries in the urban areas were not facing much of a problem. RBI had yesterday assured the state that Rs 1000 crore would be released for paying salaries and pension through banks. However, till noon only Rs 500 crore had been released, the Minister said. In the state treasuries at the state capital, aged men and women could be seen waiting patiently for the treasury to open. An elderly woman, who had come to collect her pension, said she had come early to get her monthly pension of Rs 10,000. "I have to get my pension . Banks and state treasuries in are witnessing heavy rush since morning with people queueing up to withdraw salaries and pensions.

State Minister Thomas Issac said 42 treasuries in rural areas have not received any till 11.30 AM.

The had asked RBI to release Rs 153 crore for distribution of salaries and pension through the 222 treasuries in the state, but had received only Rs 75 crore till noon, he said adding treasuries in the urban areas were not facing much of a problem.

RBI had yesterday assured the state that Rs 1000 crore would be released for paying salaries and pension through banks. However, till noon only Rs 500 crore had been released, the Minister said.

In the state treasuries at the state capital, aged men and women could be seen waiting patiently for the treasury to open. An elderly woman, who had come to collect her pension, said she had come early to get her monthly pension of Rs 10,000.

"I have to get my pension today, out of which Rs 7000 has to be paid as house rent", she said.

Another pensioner, who reached the treasury at 4 AM, said they were solely dependent on pension for daily needs.

"All the earnings have been distributed to our children. Now we have only our meagre pension to fall back upon", she said wondering if they would be lucky enough to get their pension today, the first day of the salary after the Centre scrapped Rs 1000 and Rs 500 notes last month.

State treasuries would be open till 6 PM today.

Anticipating the heavy rush, Treasury Director had yesterday sought police protection for treasuries.

Issac, who visited some treasuries, said there was severe currency shortage. In Nedumangad in the outskirts of Thiruvananthapauram, since there was shortage, only Rs 5,000 was being distributed per person.

The Centre should release the balance amount today itself, he added.

No untoward incidents have been reported from any parts of the state so far, he said.

As people are panicky, they have been queueing up right from early morning to withdraw their salaries and pension, he said.

About Rs 3000 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 five lakh each.
(REOPENS MDS6)

The state unit All India Bank Employees Association said with salary and pension to be disbursed in the first week, bank branches were under extreme pressure as the existing stock of currencies with them may not be sufficient to meet the needs of customers.

This will lead to an 'explosive situation', the association said in a statement.

Unless the RBI urgently supplied sufficient quantity of currency notes, especially of low denomination, to all the banks, bank employees would be exposed to the wrath of customers for no fault of theirs, it said.
image
Business Standard
177 22

Heavy rush in banks, treasuries in Kerala

Banks and state treasuries in are witnessing heavy rush since morning with people queueing up to withdraw salaries and pensions.

State Minister Thomas Issac said 42 treasuries in rural areas have not received any till 11.30 AM.

The had asked RBI to release Rs 153 crore for distribution of salaries and pension through the 222 treasuries in the state, but had received only Rs 75 crore till noon, he said adding treasuries in the urban areas were not facing much of a problem.

RBI had yesterday assured the state that Rs 1000 crore would be released for paying salaries and pension through banks. However, till noon only Rs 500 crore had been released, the Minister said.

In the state treasuries at the state capital, aged men and women could be seen waiting patiently for the treasury to open. An elderly woman, who had come to collect her pension, said she had come early to get her monthly pension of Rs 10,000.

"I have to get my pension today, out of which Rs 7000 has to be paid as house rent", she said.

Another pensioner, who reached the treasury at 4 AM, said they were solely dependent on pension for daily needs.

"All the earnings have been distributed to our children. Now we have only our meagre pension to fall back upon", she said wondering if they would be lucky enough to get their pension today, the first day of the salary after the Centre scrapped Rs 1000 and Rs 500 notes last month.

State treasuries would be open till 6 PM today.

Anticipating the heavy rush, Treasury Director had yesterday sought police protection for treasuries.

Issac, who visited some treasuries, said there was severe currency shortage. In Nedumangad in the outskirts of Thiruvananthapauram, since there was shortage, only Rs 5,000 was being distributed per person.

The Centre should release the balance amount today itself, he added.

No untoward incidents have been reported from any parts of the state so far, he said.

As people are panicky, they have been queueing up right from early morning to withdraw their salaries and pension, he said.

About Rs 3000 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 five lakh each.
(REOPENS MDS6)

The state unit All India Bank Employees Association said with salary and pension to be disbursed in the first week, bank branches were under extreme pressure as the existing stock of currencies with them may not be sufficient to meet the needs of customers.

This will lead to an 'explosive situation', the association said in a statement.

Unless the RBI urgently supplied sufficient quantity of currency notes, especially of low denomination, to all the banks, bank employees would be exposed to the wrath of customers for no fault of theirs, it said.

image
Business Standard
177 22

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