AP CM heads panel to study note ban effect

  • Centre sets up body with 5 Chief Ministers

Hyderabad: The Central Government has nominated Andhra Pradesh Chief Minister N. Chandrababu Naidu to head a sub-committee of Chief Ministers of five States set up to study the situation arising out of the demonetization of big notes.

Union Finance Minister Arun Jaitley telephoned to Chandrababu Naidu in this regard and informed him about his nomination to head the sub-committee, which would study various aspects after demonetization and how it has affected different sections of the people. The sub-committee, after an in depth study of the situation and also after holding parleys with the banking institutions, is expected to submit its report to the Centre for taking required steps.

Chandrababu Naidu, without any delay, has already conducted a meeting with the officials of the banks in Andhra Pradesh and wanted to know the root cause for the banking institutions failing to mitigate the hardships of the people for want of money for their daily needs.

It is learnt that Chandrababu Naidu was irked at the lackadaisical attitude of the bankers in taking corrective measures for want of enough cash supply from the RBI. He was aghast that while the deposits with the banks were in astronomical figures, the disbursements were abysmally low

-NSS

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