Pondicherry banks brace for rush for salary withdrawals
People's suffering continued as there was no improvement in the supply of lower currencies such as Rs 10, Rs 20, Rs 50 and Rs 100.
Puducherry: Both nationalised and private banks in Puducherry continue to face serious cash crunch as new notes of Rs 500 are yet to reach financial institutions in Puducherry.
People's suffering continued as there was no improvement in the supply of lower currencies such as Rs 10, Rs 20, Rs 50 and Rs 100. Banks have reportedly informed their inability to provide salary in cash to government employees in the current situation.
The Puducherry State Government Employees Central Federation and other organizations has urged the government to provide their salary in cash.
About Rs 150 crore is required to pay salary to more than 30,000 government employees and pensioners in Puducherry and if the money is being paid in cash other sectors of the society would suffer, bank officials reportedly informed the Chief Minister in a meeting.
To meet the emergency situation, most banks have reduced their withdrawal limit considerably. “Banks would provide money according to their availability of cash, we have to satisfy all our customers,” said S. Murugan, a senior official working in Indian Bank.
Many ATMs in Puducherry remained closed. Though there are more than 500 ATMs in the Union Territory, only about 30 of them are functional.