Fill ATMs with cash, Babu tells RBI

Amaravati: Expressing concern over the shortage of cash availability in the banks and ATMs in the State, Chief Minister N Chandrababu Naidu on Thursday asked the RBI and the Centre to ease the problem immediately. Questioning the RBI representatives and bankers on why they had failed in solving the cash availability problem for the last six to seven months, Chandrababu Naidu demanded that the RBI should come up with appropriate solution for the problem.

Chandrababu Naidu made the comments at the State Level Bankers’ Committee – SLBC – meeting at his residence at Undavalli here. At the meeting the SLBC decided to request the RBI and the Department of Financial Services of Central government to make a detailed study of the cash shortage problem and come out with a comprehensive policy frame work to resolve the issue.

Meanwhile, the RBI representatives claimed that from April 17 there was no cash crunch in the state. When Chandrababu Naidu questioned the bankers whether they would provide cash without any restriction to the public, there was no answer from bankers and the RBI representatives.

The bankers informed that around 78 per cent of the ATMs were working in the state. At this juncture, Chandrababu Naidu disputed their version and told them that they would soon have to face the wrath of the people if they fail to find a solution. “We are facing cash crunch in tribal areas also and the bankers should concentrate,” Chandrababu Naidu directed.

At the meeting it was pointed out to the bankers that workers under MGNREGA were also facing problem in taking money from the banks. Regarding bonds, the farmers are eligible to get previous and present years department redemption bonds and the bankers should allow the beneficiaries to claim. Bankers were directed to give due respect to the farmers in the villages and give proper information to them and educate them on the loan redemption scheme and maintained that it was the responsibility of the bankers.