Jaitley, RBI should take steps on cash problem: KTR

Telangana IT and Industries Minister KT Rama Rao today expressed concern that cash shortage problem in Banks and ATMs across Telangana State has been prevailing for long time. “Union Finance Ministry and RBI should make coordinated efforts to check the problem of cash shortage and take steps for availability of the funds in the banks and ATMs”, he said.

The problem of cash shortage is neither sudden nor temporary he remarked. KTR remark gets importance as Union Finance Minister Arun Jaitley in a twitter message said that they are pumping in cash to the states seeking adequate funds. The Centre should take immediate steps to ensure that the Banks and ATMs get adequate cash reserves to avoid inconvenience to the people in Telangana State. Taking to twitter, KT Rama Rao has said that he has been hearing the complaints of cash shortage seriously from people for the past three months.

KTR urged Union Finance Minister Arun Jaitley to initiate immediate action in coordination with RBI by conducting an in-depth study. The Centre should take steps to see that the people do not lose confidence on the banking system, he said, adding that it was not a sudden development nor a temporary issue which was daunting the people, KTR reportedly said. (NSS)