RBI to provide Rs 1000 cr tomorrow for distribution of salary: Isaac
Thiruvananthapuram: The Reserve Bank of India (RBI) has informed that it will provide Rs 1000 crore on Thursday for the distribution of the salary and pension to state government employees, Finance Minister T M Thomas Isaac said on Wednesday.
He was talking to media personnel after holding a meeting with RBI and bank officials to decide on distributing salary in the wake of currency shortage.
The state government had demanded Rs 2400 cr -- Rs 1200 crore each via banks and treasury.
However, the RBI has agreed to provide RS 1200 cr -- Rs 500 crore each through banks and treasury. The remaining amount (Rs 200 crore) will be made available in two days.
“The salary will not be delayed. The amount will be credited to respective account tomorrow itself,” Isaac said.
“However, the withdrawal limit from the account has been fixed at Rs 24000 a week. The RBI had asked to lower the limit, but the government did not admit it,” he said.
The money will be transferred to treasuries from various banks on Thursday morning. There is no need to be panic,” he added.
Flaying the Centre’s demonetisation move, Isaac said the government has failed to provide the currency notes even after three weeks.
The move, which was dubbed as a step to curb the black money menace, has failed serve the purpose, he added.