Severe shortage of cash in Telugu states

Money_295x200The Telugu states Telangana and Andhra Pradesh, might face the impact of Demonetization as there is a severe shortage of cash in all the denominations at Public Section Banks .

Andhra Pradesh and Telangana Bank Employees’ Federation working President and Andhra Bank Employees’ General Secretary,  T.Ravendranadh and Andhra Bank Officers’ Union General Secretary Harinadh said there is a shortage of cash in Telugu states. While RBI is not able to supply the cash equally to all the banks .

They alleged , RBI is responsible for this avoidable panic situation in the Telangana.

Meanwhile, the govt announced that Rs 1,000 notes would no longer be allowed to be used, but 500 notes can be used till Dec 15. Pre-paid mobile top-up to a limit of Rs 500 per top has been allowed with the old Rs 500 notes.