Banks, post offices to function today in state
Kozhikode: Long queues before banks and ATMs have become a common sight everywhere and bank employees are putting their best efforts to render timely service to the harrowed people.
Banks and post offices will function on Sunday and post offices will undertake normal savings operations and also operate special counters for currency exchange, said senior post master general. But post offices will be closed on Monday due to Guru Nanak Jayanti.
Banks are more committed to the customer’s needs and give minimum inconvenience to the waiting people and disburse money as early as possible without even taking a break.
A bank manager from Kasargod pours out his woes by saying that it is nearly 3 days since he had proper food or sleep. People are seen flocking to banks by applying leave in their office to exchange the scrapped currencies. The bank employees never leave the counter and if at all they have to seek a break they make alternative arrangement and then only leave.
Most of the banks are witnessing normal banking operations with adequate staff in the banks.
A woman in Kozhikode said this was an unprecedented situation and she returned after waiting for an hour to withdraw money from an ATM.
Meanwhile with Sunday also a working day for all the banks in the state, the problem of shortage of Rs 100 notes appears to be the main issue.
According to estimates, Kerala has about 6,900 bank branches and 8,000 ATMs.
The demonetization of Rs 500 and Rs 1,000 currency notes has hit tipplers in Kerala, with liquor sales dropping leading to a consequent drop in its contribution to the state exchequer.
According to figures from the sole wholesaler of liquor and beer in the state - Kerala State Beverages Corporation, that has an average daily sales of close to Rs 29 crore, since Tuesday it has dipped to below Rs 20 crore.
Since Tuesday midnight after Rs 500 and Rs 1,000 denominations were pulled out by the government, the daily sale of liquor fell to Rs 18 crore on Wednesday, from Rs 29 crore the previous day.
On Thursday, the sales climbed to Rs 20.15 crore and on Friday it fell below the Rs 20 crore mark.
Taxes that come to the state exchequer from the sale of liquor and beer account for as high as 80 per cent of the total sales value. With around 30 per cent drop in daily sales, the state will feel the heat more in raising funds.
The total sales of KSBC for the month of October was Rs 1,030 crore.