AP’s Rs 10,000 Cr Request to Fight Cash Crunch

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CM Sri N Chandrababu Naidu wrote to the center with a special request that can address the severe ongoing cash crunch in the state.

The Chief Minister presented some workable options that will help public ease out their cash ordeals. Out of these, the most useful one seems to be request to release Rs 10,000 Cr in smaller denomination.

The CM also asked for the below, while asking for the above cash arrangement

– Reasonable waiver on user charges with online transactions
– Supply of Point of Sale (POS) swiping machines at a subsidy cost of 80%

The CM stated that AP is fighting the situation massively and the above arrangement could ease the burden to a great extent. Mr Naidu wrote the letter after conducting elaborate review on the present situation with bankers, RBI officials and state govt officials.

The CM said that government intends to start cashless ration distribution through 29,000 fair price shops in the state, starting December 1.

Speaking about the ordeal going on with online transactions, the CM appealed to the center to link all the bank accounts with Aadhar and use iris imprint and finger prints.

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