Telangana Govt Allows Old 500, 1000 Bills

Telangana Finance Minister Etela Rajender today instructed bankers to minimise the problems being faced by common people in the wake of the demonetization of Rs. 500 and Rs. 1,000 currency notes.

He expressed concerns over the adverse affect the decision had on various sectors including industry and business, and also on the common man.

Through a video conference at the Secretariat, the finance minister asked Chief Secretary Rajiv Sharma, District Collectors and bankers to see to that day-to-day affairs of the common man including marriages were not hampered due to the decision, and see if they could allow auto-rickshaw pullers, DCMs and other vehicles to use old notes to purchase goods besides making timely payment for daily wage workers.

He also asked them to take steps to prevent any sort of revolt from people against the State or the Centre by ensuring that banks had adequate money, including hard cash, and asked them to distribute the same to people in a hassle-free manner.

The minister also asked bankers to increase the limit of withdrawals to Rs. 4,500 a day and the limit of loan amount to Rs. 50,000 to small businessmen.

Rajiv Sharma stated that the people could make use of the old Rs. 500 and Rs. 1000 notes for purchases till November 24.