Chief Minister N. Chandrababu Naidu has described the withdrawal of old high denomination (OHD) nones of Rs.500 and Rs.1,000 as a welcome measure to curb black money. But, at the same time, it has resulted in problems to the common man and petty traders.
At an extended meeting of the TDP here on Thursday, Mr. Naidu said he was seized of the problem for the past few days and was thinking of various ways to reduce the problems of the common people.
“I have realised that you should use your ‘Jan Dhan’ and pay through RuPay or account. I also feel that the Rs.2,000 notes should be withdrawn as they would contribute to black money. The new Rs.500 notes are in short supply,” he said.
“But these are all temporary problems. In the long run, you should all adopt mobile banking, Internet banking and card transactions for your own convenience.”
The Chief Minister, however, admitted: “We cannot totally dispense with cash. I am putting pressure on the Centre and the Reserve Bank of India (RBI) to ensure supply of adequate number of lower denomination notes to meet the needs of the common people.”
Naidu stresses need to adopt mobile and Internet banking, and card transactions
