The current situation of AP Chief Minister reminds us of EVV's 'Ammo! Okato Tareekhu'. While the feature film released in 2000 was based on financial woes faced by head of a middle class family, Chandrababu Naidu who have the responsibility to take care of 5 crore Andhrites is in the same position at present.
TDP Government needs to spend Rs 450 crore for pension on Day 1 of every month. In addition, Thousands of crore has to be disbursed for paying salaries of employees.
In the recent meeting with Bank Officials, Chandrababu Naidu complained that there is cash crunch ever since Banks gave an indication that they would use Depositors Money to address any financial issue. 'PNB Scam ruined the faith public have on banking system. Bankers have the responsibility to gain the confidence of people,' he said.
When CM enquired about No Cash boards at ATMs, Officials informed 85 percent of ATMs have been functioning normally. They, however, admitted deposits have fallen by 75 percent and money circulation is at an all time low since demonetisation. CM was informed that AP would receive Rs 500 crore from RBI within 2-3 days.
TDP Government needs to spend Rs 450 crore for pension on Day 1 of every month. In addition, Thousands of crore has to be disbursed for paying salaries of employees.
In the recent meeting with Bank Officials, Chandrababu Naidu complained that there is cash crunch ever since Banks gave an indication that they would use Depositors Money to address any financial issue. 'PNB Scam ruined the faith public have on banking system. Bankers have the responsibility to gain the confidence of people,' he said.
When CM enquired about No Cash boards at ATMs, Officials informed 85 percent of ATMs have been functioning normally. They, however, admitted deposits have fallen by 75 percent and money circulation is at an all time low since demonetisation. CM was informed that AP would receive Rs 500 crore from RBI within 2-3 days.