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Pay-day: Govt. employees, pensioners can withdraw Rs. 24,000, says Kerala Fin Min

ANI  |  Thiruvananthapuram (Kerala) [India] 

With the state feeling the burnt of demonetisation, Minister Thomas Isaac on Thursday said the employees and pensioners will be able to withdraw only Rs 24,000 a week.

Talking to the media, Isaac said as there are no sufficient notes for disbursement of complete salaries, the staff and pensioners will have to move or treasury in person.

"The banks have no and it is very clear. And, there is no way that they are going to get sufficient to pay the full salary. Therefore, the understanding is that the salary and pension will be limited to 24,000 rupees for one time withdrawal. So, over five lakh people are drawing pension from treasury and from banks. They will have to go to their prospective banks and treasury, especially to withdraw money," he said.

"The total number of employees and pensioners in the state is around 10 lakh. About 5.5 lakh draw their salary through banks, 4.5 lakh through treasury accounts and the rest about 50,000 in cash," he added.

He said the government had sought Rs 2,400 crore from the RBI to disburse to 10 lakh people through banks and the treasury.

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

First Published: Thu, December 01 2016. 12:13 IST