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Demonetisation: Andhra Pradesh CM N Chandrababu Naidu slams bankers for lax attitude

In this hour of crisis, bankers should shed their usual business approach and work with people's welfare in mind, said N Chandra Babau Naidu, according to the press release.

By: PTI | Amaravati |
December 14, 2016 11:14:40 pm
Andhra Pradesh, N Chandrababu Naidu, Demonetisation, Currency crunch, latest news, India news, Bankers in Andhra Pradesh, latest news, India news Andhra Pradesh Chief minister Chandrababu Naidu. (Source: File Photo)

Andhra Pradesh Chief Minister N Chandrababu Naidu tonight came down heavily on the bankers, saying their lax approach was causing problems in the wake of demonetisation. “There are reports that people are dying in queues at ATMs and banks. This is very sad. I shouldn’t hear such news anymore,” the Chief Minister warned at a review meeting with bankers on the currency crisis late this evening.

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In this hour of crisis, bankers should shed their usual business approach and work with people’s welfare in mind, he said, according a press release. “You are not coming up as fast I want to ease the crisis. As bankers you may not have any problem but the government is facing problem,” he said.

A lot of damage was being done because of the bankers’ laxity in disbursal of cash and also in appointment of banking correspondents, he said.

The Chief Minister asked bankers to take police’s help in confiscating 13,000 Point of Sale machines that were not being used by merchants. He wanted those machines to be given to other merchants.

“This is your responsibility to ensure that PoS machines are put to use,” he added. Andhra Pradesh is expected to receive Rs 500 crore cash tomorrow, of which Rs 300 crore would be in the new Rs 500 notes. The Chief Minister said he wanted the entire amount distributed only to pensioners.

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