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Note ban: CM calls for collectively tiding over the situation

Press Trust of India  |  Amaravati 

Terming the ongoing currency crisis as a "national calamity", Chief Minister today called for collective and coordinated efforts to tide over it.

A day after he pulled up bankers for failing to effectively address the situation, the Chief Minister apparently mellowed down and said he was interfering in the system only to remove hardships being faced by people post-demonetisation.



"Don't feel I am exerting pressure on you. Relieving people of the troubles is my only concern and hence I am interfering in your affairs. The present currency crisis is a national calamity and we all should work collectively to tide over it," Chandrababu told the bankers during a teleconference here today.

"We are forced to remain helpless because of your non- cooperation despite reviewing the situation daily in the morning and evening," the CM had rued yesterday and warned the bankers that any "lackadaisical attitude" would not be tolerated.

But the bankers had been resenting the "unwanted interference" of the Chief Minister in their functioning post-demonetisation.

Bankers were miffed with the Chief Minister for "overstepping his jurisdiction" and issuing orders in contravention of the guidelines being issued by RBI and their own banks.

With reports coming out about an apparent face-off between the Chief Minister and the bankers, Chandrababu spoke to them today in a conciliatory tone.

"The cash available in the state is less, as also the number of Point of Sale machines. Our state is ahead in technology and thereshould be maximum number of cashless transactions from December 1," the Chief Minister said.

Special Chief Secretary (Finance) Ajeya Kallam, Director General of Police (in charge) Nanduri Sambasiva Rao, Finance Secretary K Sunita and other top officials of the state also took part in the teleconference.

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

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Note ban: CM calls for collectively tiding over the situation

Terming the ongoing currency crisis as a "national calamity", Andhra Pradesh Chief Minister N Chandrababu Naidu today called for collective and coordinated efforts to tide over it. A day after he pulled up bankers for failing to effectively address the situation, the Chief Minister apparently mellowed down and said he was interfering in the banking system only to remove hardships being faced by people post-demonetisation. "Don't feel I am exerting pressure on you. Relieving people of the troubles is my only concern and hence I am interfering in your affairs. The present currency crisis is a national calamity and we all should work collectively to tide over it," Chandrababu told the bankers during a teleconference here today. "We are forced to remain helpless because of your non- cooperation despite reviewing the situation daily in the morning and evening," the CM had rued yesterday and warned the bankers that any "lackadaisical attitude" would not be tolerated. But the bankers had ... Terming the ongoing currency crisis as a "national calamity", Chief Minister today called for collective and coordinated efforts to tide over it.

A day after he pulled up bankers for failing to effectively address the situation, the Chief Minister apparently mellowed down and said he was interfering in the system only to remove hardships being faced by people post-demonetisation.

"Don't feel I am exerting pressure on you. Relieving people of the troubles is my only concern and hence I am interfering in your affairs. The present currency crisis is a national calamity and we all should work collectively to tide over it," Chandrababu told the bankers during a teleconference here today.

"We are forced to remain helpless because of your non- cooperation despite reviewing the situation daily in the morning and evening," the CM had rued yesterday and warned the bankers that any "lackadaisical attitude" would not be tolerated.

But the bankers had been resenting the "unwanted interference" of the Chief Minister in their functioning post-demonetisation.

Bankers were miffed with the Chief Minister for "overstepping his jurisdiction" and issuing orders in contravention of the guidelines being issued by RBI and their own banks.

With reports coming out about an apparent face-off between the Chief Minister and the bankers, Chandrababu spoke to them today in a conciliatory tone.

"The cash available in the state is less, as also the number of Point of Sale machines. Our state is ahead in technology and thereshould be maximum number of cashless transactions from December 1," the Chief Minister said.

Special Chief Secretary (Finance) Ajeya Kallam, Director General of Police (in charge) Nanduri Sambasiva Rao, Finance Secretary K Sunita and other top officials of the state also took part in the teleconference.

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

image
Business Standard
177 22

Note ban: CM calls for collectively tiding over the situation

Terming the ongoing currency crisis as a "national calamity", Chief Minister today called for collective and coordinated efforts to tide over it.

A day after he pulled up bankers for failing to effectively address the situation, the Chief Minister apparently mellowed down and said he was interfering in the system only to remove hardships being faced by people post-demonetisation.

"Don't feel I am exerting pressure on you. Relieving people of the troubles is my only concern and hence I am interfering in your affairs. The present currency crisis is a national calamity and we all should work collectively to tide over it," Chandrababu told the bankers during a teleconference here today.

"We are forced to remain helpless because of your non- cooperation despite reviewing the situation daily in the morning and evening," the CM had rued yesterday and warned the bankers that any "lackadaisical attitude" would not be tolerated.

But the bankers had been resenting the "unwanted interference" of the Chief Minister in their functioning post-demonetisation.

Bankers were miffed with the Chief Minister for "overstepping his jurisdiction" and issuing orders in contravention of the guidelines being issued by RBI and their own banks.

With reports coming out about an apparent face-off between the Chief Minister and the bankers, Chandrababu spoke to them today in a conciliatory tone.

"The cash available in the state is less, as also the number of Point of Sale machines. Our state is ahead in technology and thereshould be maximum number of cashless transactions from December 1," the Chief Minister said.

Special Chief Secretary (Finance) Ajeya Kallam, Director General of Police (in charge) Nanduri Sambasiva Rao, Finance Secretary K Sunita and other top officials of the state also took part in the teleconference.

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

image
Business Standard
177 22

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