AP CM wants coop. banks to accept banned notes

Vijayawada:A�AP Chief Minister N. Chandrababu Naidu suggested on Tuesday that old 500 and 1000 rupee currency notes should be allowed to be accepted by co-operative banks immediately for loan repayment and a resolution to this effect was passed by the SLBC at a meeting.

Chandrababu Naidu said an appeal will be sent to the RBI and to the Centre to allow the cooperative banks to accept old notes for loan repayments. It was also decided that no service charge would be levied till December 30 for those who are using RuPay cards.

The AP Chief Minister requested all the bankers to rise to the occasion and help the people to mitigate the crisis situation. a�?The demonetization should not stall the economic activity in the State. Rather, this situation should be a challenge for both the government and bankers. It is a big opportunity for changing the banking habits of the people. A positive push should be made to encourage people to go for cashless transaction,a�? said the Chief Minister.

He wanted the youngsters, who are highly tech-savvy, to use mobile banking option. The Chief Minister made an appeal to the bankers to place the status of availability of cash in currency chest. He also added that the banks that have currency should help those bankers, who are out of cash.

Three important issues emerged at the meeting: One is the opening of bank accounts, second is to issue Rupay cards to all the people through business correspondents and the third is to encourage cashless transactions among all sections of the society.

The Chief Minister requested the bankers to sensitize the branches for the delivery of RuPay cards to those people who havena��t got them yet. They were asked to engage business correspondents and retired employees to educate account holders on the benefits of using cards and why we need to go for cashless transactions. As the number of ATMs recalibrated for the new currency is only 1577 in Andhra Pradesh, the Chief Minister asked the banks to take it as priority and activate all ATMs along with recalibrating them to dispense new currency notes.

To mitigate the hardship due to demonetization, the CM announced that Rs 2 crore per district totaling an amount of Rs 26 crores will be released to 13 districts.


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