Amid PM Modi’s Demonetization Move, Gods come to Rescue the Banks in Andhra Pradesh

Many temples are coming forward to the rescue of banks which have been struggling to meet the needs of the public

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Hundi in a Temple in India, Wikimedia

Andhra Pradesh, Nov 20, 2016: Several temples in Srikakulam district are depositing hundi collections in banks to help with the hardship of small currency in the wake of Demonetization. From Major to Minor, many temples are coming forward to the rescue of banks which have been struggling to meet the needs of the public.

Under the guidance of N. Chandrababu Naidu, Chief Minister of Andhra Pradesh- the administration of Srikakulam has suggested that all the temples should deposit their hundi collections in the banks where they have accounts, mentioned The Hindu report.

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Sri Suryanarayana Swamy Temple present at Arasavalli collects around Rs. 15 Lakh/month through the Hundi offerings. Other major temple named Sri Kurmam collects approximately Rs. 5 Lakhs, mentioned The Hindu.  About 100 temples such as Sri Mukha Lingam, Endla Mallikarjuna at Ravivlasa, Shiva Balaji, Koteswara Alayam, Vinayaka Panchayatana, Uma Rudra and others gave an assurance to deposit hundi collections as they receive offerings in smaller denominations of Rs. 100, Rs. 50, Rs.20, Rs. 10 and coins

Lakshmi Narasimhan, Collector at Srikukalam told The Hindu, “We directed the Endowment Department to take necessary steps immediately to count the hundi collection and deposit the amount in banks. It certainly eases the stress on the bankers who could not give notes of smaller denominations.” He further added, “We asked the government to provide Rs. 50 and Rs. 100 notes worth of Rs. 100 crore to Srikakulam district. We hope the RBI and departments concerned will respond positively.”

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A POS Machine, Wikimedia
A POS Machine, Wikimedia

Point of Sale (POS) Machines-

Along with this officials have taken steps to keep POS machines in public places such as petrol outlets, Rythu Bazaars, RTC bus-stands and several other places to provide cash to people. POS machines work like ATMs at the public places. User charges will not be collected till December 30, 2016, from the customers who withdraw money from POS machines.

– prepared by Chesta Ahuja, NewsGram.  Twitter: @ahuja_chesta

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  • Diksha Arya

    What a great initiation….