Demonetisation: ‘Never seen such a crisis like this’, Says Chandrababu Naidu

Vijayawada, Nov 21: Andhra Pradesh Chief Minister N. Chandrababu Naidu on Sunday made no bones about the tardy progress in providing relief to people facing multitude of problems arising from demonetisation of Rs. 500 and Rs. 1,000 currency notes.

“I never came across a crisis that could not be solved for so many days in my entire political career,” he said in a teleconference with officials and bankers from his residence here.
The State government could tide over the Hudhud cyclone impact and restore normalcy in just eight days. It was on high alert following a setback on the first day of the Godavari pushkarams ensuring the event went off smoothly thereafter. It was unfortunate the problems of demonetisation had remained unsolved even after 12days, he said.

“I myself feel impatient over the predicament. Despite all hardships, the people are exhibiting patience and endurance. Really, we need to appreciate it.” The bankers and the finance department officials should get up and go. “It is time the people got their much needed relief from cash crunch.”

Exchange of old currency and non-availability of sufficient small denomination notes were impacting all walks of life, including the poor and the rich. The bankers must see the crisis as an opportunity and prove their efficiency. It was time to meet the expectations of the public and work overcoming rules and regulations, he said. “Address every complaint received at the command control room.”

The banks also need to set up call centres to reach out to the consumers and address their grievances. They can use the available infrastructure and resources. They can also depute senior officials who can guide the staffers and the public in the right direction in every district. They would have to assess the cash requirements in every district for effective monitoring and see that rural areas would not suffer due to cash crunch, he said.

Mr. Naidu said the Reserve Bank had dispatched Rs. 2,000 crore worth currency to the State. Of this, Rs. 100 notes amounted to Rs. 400 crore. So, there was a possibility that the people would have some respite.

Special Chief Secretary (Finance) Ajeya Kallam, DGP N. Sambasiva Rao, RBI GM Subbaiah and others were present at the teleconference.

The Chief Minister would convene a special State Level Bankers Committee (SLBC) meeting on Monday to take stock of the situation.

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