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Cash scare grips people

Cash scare grips people
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They are an extremely worried lot whether their full salary of November would be credited into their accounts or note. They are not sure as to how...

Nizamabad: Shortage of cash being experienced by the middle classes along with traders and contractors following the demonetisation of Rs.500 and Rs.1,000 currency notes is also being felt by employees of both the government and private sectors, with December 1 approaching.

They are an extremely worried lot whether their full salary of November would be credited into their accounts or note. They are not sure as to how salaries would be paid although everyone wants their full amounts to be paid, like in the past.

The employees are spending anxious moments as only Rs.2,000 is being allowed to be withdrawn from ATMs by people after waiting right from morning till sunset.

In such conditions both the government and private employees are likely to face hardships. They are pressing for increasing the limit by banks, so as to avoid financial problems. The employees also want no hassles to be faced in banks on the salary day.

It is questionable how each Central government staffer is to be paid advance of Rs.10, 000. It does not seem to be possible unless a big budget is made available by the government. As a result, it is quite natural that every employee is sure to get worried as the dreaded day of December 1 approaches.

There are 24,600 State government employees in Nizamabad and Kamareddy districts who receive every month Rs.1.6 crore as monthly salary. Those in Nizamabad district centre number 3,370, including the class VI and the district-level officials and their associates are just about managing to meet their salaries with the monthly budget.

The State TNGO leaders appealed to the Chief Secretary and the government to disburse their salaries in cash. The State staff are a worried lot with the scrapping of high denomination currency notes, the RBI imposing restrictions limiting the bank withdrawals to Rs.24,000. Besides, there is no clarity on the mode of payment, although it is clear that it would be made through banks.

The same is the fate of employees of private sector organisations , who are managing with insufficient salaries. They are also worried about their December salaries as the managements of their companies have already told them that sufficient funds are not available, with the scrapping of Rs.500 and Rs.1,000 notes. In some offices the old notes are being given to the staff.

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