TS Gets Rs. 20,000 Crores New Bills Since Note Ban

Among the two Telugu States, Telangana became the higher engrosser of the new currency notes as it managed to get a larger share - nearly Rs. 20,000 crores - from the Reserve Bank of India post-demonetization of the two bills on November 8.

Ministers of the Telangana government said that Chief Minister K Chandrashekar Rao was in constant touch with the State Finance Department and pushed it to urge RBI authorities to ensure regular currency supply to the State.

The Chief Minister, during his recent meeting with Union Finance Minister Minister Arun Jaitley, had requested Rs. 500 crores worth notes in the smaller denomination. Acting on his request, the RBI sent Rs. 480 crores in small bills within a week.

And Telangana during the last two days received another Rs. 1,600 crores worth currency from the RBI, taking the total amount received by the State since the note ban to Rs. 20,704 crores. Of the Rs. 1,600 crores, the State received Rs. 480 crores, as mentioned above, in the denominations of 500 and 100. Earlier it had received Rs. 19,104 crores, but mostly in the 2,000 denomination.

With this, the cash crunch in Telangana and the problems that followed are expected to ease.