Harish Rao demands RBI

HYDERABAD December 21 : People were suffering due to cash crunch of high denomination notes.They are getting only Rs.2000 notes from the ATMs as well as banks. They were struggling to change the Rs.2000 to small currency notes. It is another problem due to demonetization in Telangana.

Telangana irrigation minister T. Harish Rao on Tuesday demanded that the Reserve Bank of India (RBI) should dispatch 5000 crore worth notes in smaller denomination.

The Minister echoed the views of the state finance minister Etela Rajendra, who had earlier demanded that RBI should dispense smaller notes. The state has been demanding smaller notes as several vendors have been hit, which is impacting businesses.

RBI has so far remitted only 4% of `500 notes to the state, while the rest have been higher denomination notes. After demonetization Telangana, received about Rs 20,000 crore so far.

Let us hope, RBI will release small notes instead of higher denomination Currency notes...