Demonetization effect: Tripura faces shortage of lower denomination notes

Demonetization effect: Tripura faces shortage of lower denomination notes

AGARTALA: Though the new currency of Rs. 2,000 is now available in the market, shortage of lower denomination notes hits Tripura badly even after a month passed of the demonetization.

"There is shortage of lower denomination notes. The ATM counters have high value note of Rs. 2,000 and most of the counters in rural areas are not working. The note poses a problem due to lack of changes in the market," an official of Finance Department said.

A meeting was conducted between State-Level Bankers' Committee comprising of higher officials of different banking institutions and Tripura government officials recently in Agartala. This was the first meeting held post-demonetization.

However, the official asked the banking officials to take required steps to minimize the sufferings of people due to shortage of lower denomination notes.

Added to it, they were asked to increase Credit-Deposit Ratio in the state, sanction loans under different schemes like Prime Minister Employment Generation Programme (PMEGP), Swabalamban, issue proper benefits under Kisan Credit Cards for daily-wage workers and farmers.

On the other hand, the banking officials said that there is no cash crisis in the state so far. However, they asked the authorities of Reserve Bank of India to arrange for smaller denomination of notes.

TNT News

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