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Demonetization: Chaotic Queues get longer as People scrambled for Money after Monthly Salaries got Credited in Bank Accounts

The supply of notes from currency chests has failed to keep pace with the demand for cash

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Customers line up outside a New Delhi bank to exchange outdated currency or make withdrawals. (A. Pasricha/VOA)

NEW DELHI, November 30, 2016: Chaotic queues got longer on Wednesday as people in large numbers scrambled for money after monthly salaries got credited in bank accounts — the first since the high value currency was scrapped, causing an unprecedented cash deficiency across India.

Most private companies in India credit salaries to their employees on the last day of a month even as labor laws allow wages to be disbursed on any day before the 10th of the next month.

 As soon as the salaries were credited, millions of employees began queuing up outside banks and ATMs across the country to withdraw cash to meet their monthly needs and pay their domestic helps, drivers and clear their monthly grocery and other bills.

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Since the supply of notes from currency chests has failed to keep pace with the demand for cash after 86 per cent of currency in circulation was declared illegal on November 8, the chaos worsened on the payday as more households needed cash than earlier.

Several banks ran out of cash within hours of opening. Some bank officials complained that they were getting cash much below what they need.

Bankers said they were rationing withdrawals so that more customers were catered to.

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People were seen in bigger numbers waiting to withdraw money. Many were annoyed by the rush and the arbitrary withdrawal limits set by banks. And the situation could get worse in the coming days as more number of people will receive salaries.

“I have to pay my maid and grocery bills in cash. I somehow managed to convince my landlord to accept the rent in cheque but I am bound to visit the bank for other payments,” said Vishakha Sharma from west Delhi.

The 27-year-old waited outside a bank for two hours. “It is so humiliating that we have to stand in long queues and beg for our own money.”

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An MNC employee, Yogesh Yadav, said he had come to withdraw Rs 24,000 from his bank account but was given only Rs 10,000. “It’s the end of the month and I am supposed to pay bills. How will I manage?” Yadav asked.

A resident of Krishna Nagar in Delhi, Rahul Chauhan got his salary credited on Tuesday but could not withdraw even after standing in a queue at 3 a.m. on Wednesday.

“By the time my chance to enter the bank came, it ran out of cash.”

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Scenes in Kolkata, like the rest of India, played out no differently. In apprehension of a mad rush, people started queuing up outside banks and ATMs since morning.

“I am in the queue since 8.30 a.m.,” said Sougata Mitra, an employee of a private firm outside a Bank of India branch in central Kolkata.

It was 10.45 a.m. when IANS caught up with Mitra, and already 50-60 customers had lined up.

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The first salary day after demonetization proved haranguing for the maximum city Mumbai where most ATMs ran dry. Desperate men and women drove from one place to another, halting wherever they saw an ATM alive, albeit with long queues.

Though many Mumbaikars have shifted to making certain payments online or by debit/credit cards, there are many bills which need to be paid in cash. Many feared that the situation could worsen on Thursday.

“Everything has come to a standstill. Worse, many online payments systems are jammed due to the sudden heavy traffic and payments are pending,” fumed a pharmaceutical consultant P. Venkataraman from Kandivali, a Mumbai suburb. (IANS)

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Sanitization to Fight Coronavius Begins in UP

Massive sanitization drive begins in UP

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A massive sanitization drive began in major cities in Uttar Pradesh on Friday. (Representation Image). Pixabay

A massive sanitization drive began in major cities in Uttar Pradesh on Friday. This is the latest news in India.

Rajkumar Vishwakarma, DG, fire services, told reporters that sanitization was being done with sodium hypochlorite and fire personnel had been instructed to take care and not to spray the disinfectant on human beings and animals.

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The sanitization will be done using sodium hypochlorite. (Representational Image). Pixabay

Spraying will also not be done inside any building due to electrical connections.

Fire personnel have been asked to take photographs and post it on WhatsApp media groups. They have been asked to avoid calling the media personnel to the sanitisation sites to avoid risks.

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Earlier this week, about 50 migrant workers who were at a bus station in Bareilly, were sprayed with sodium hypochlorite by the sanitisation staff. Those who were sprayed, including children, complained of itching in the eyes and rashes on the body.

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Chief minister Yogi Adityanath had expressed his concern over the incident and assured action against the guilty.

District magistrate Bareilly, Nitish Kumar said that the incident happened due to ‘over-zealous’ workers. (IANS)

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People Have Faith in Modi Government to Handle COVID-19 Crisis

Over 83% trust Modi govt will handle COVID-19 crisis well

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The Narendra Modi-led central government is leaving no stone unturned in fight against the novel coronavirus pandemic. Wikimedia Commons

As the Narendra Modi-led central government is leaving no stone unturned in fight against the novel coronavirus pandemic, 83.5 per cent people from various states “trust in government” in handling the crisis.

The findings came out in the IANS-CVoter exclusive tracker on COVID-19 Wave 2 survey conducted during last seven days among 18 plus adults nationwide. The findings and projections are based on Computer-Assisted Telephone Interviewing (CATI).

Replying to a question “I think Indian government is handling the coronavirus well”, 83.5 per cent people agreed that they trust in government’s steps being taken in fight against the deadly disease, and 9.4 per cent expressed their disagreement. The survey was conducted on March 26 and 27. Of the 83.5 per cent who showed their trust in government, 66.4 per cent strongly agree with the opinion and 17.1 agree with the view.

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A similar survey on the same question done on March 17 and 18 showed that 83.6 per cent people expressed their trust in government in fight against the pandemic which so far has claimed 29 lives and over 1,000 conformed cases. A total of 13.7 per cent people expressed their disagreement.

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83.5 per cent people from various states trust the Modi government in handling the COVID-19 crisis. Wikimedia Commons

As per the tracker, the data is weighted to the known demographic profile of the states. Sometimes the table figures do not sum to 100 due to the effects of rounding, it says. “Our final data file has socio-economic profile within plus 1 per cent of the demographic profile of the state. We believe this will give the closest possible trends.”

The Tracking Pol fieldwork covers random probability samples during the last seven days from the release date and that the sample spread is across all assembly segments across all states. This survey covers all states in India and was conducted in 10 languages as part of our routine OmniBus, it says.

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“This is a thorough random probability sample; and we are ensuring a proper representative analysis by statistical weighing of the data to make it representative of the local population as per the latest census and or other available demographic benchmarks.”

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The data clarified that it strictly follows the WAPOR code of conduct (World Association of Public Opinion Research) for our ethical and transparent scientific practices and have incorporated the PCI (Press Council of India ) guidelines as our SOP (Standard Operating Procedures). (IANS)

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Know Why the Vietnamese Governement Turns to Private Companies for Public Services Needs

Vietnam urges private companies to help the government serve public service needs

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Garbage collection is still a local government responsibility in Vietnam. Pixabay

Last year companies like Coca Cola and Tetra Pak, an international food packaging and processing company, collaborated with Vietnam’s biggest city to lower garbage levels. Their work included putting recycling bins around Ho Chi Minh City and investing in the waste management system.

Garbage collection is still a local government responsibility.

The collaboration, though, shows how Vietnam is increasingly looking at private companies to fulfill its national development needs.

Vietnam is at a turning point. The country used to rely on aid from nations such as Sweden and Canada, and that foreign funding helped Vietnam improve education, health care, and other public goods, and transform into a lower middle-income nation.

Foreign governments are cutting aid budgets globally, though, and Vietnam no longer qualifies for as much aid, so it is trying a new approach to development, making it a business.

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Scavengers search for recyclable materials to be sold to recycling centres, at the Nam Son garbage dump, north of Hanoi. VOA

It matches marketing strategy to a need for investment dollars.

That means getting more companies involved in activities traditionally performed by government, with the intention of reaching Vietnam’s development goals.“

A series of ongoing market reforms is giving Vietnam a market-leading status in Southeast Asia, making it an increasingly attractive place for investors,” Nirukt Sapru, who is the chief executive officer for Vietnam, Southeast Asia, and South Asia at Standard Chartered Bank, said.

Elsewhere in the region, Malaysia struggled to introduce a fee to clean septic tanks when privatization occurred because residents had gotten used to that being a public service, already covered by tax dollars. Citizens globally have resisted when governments move to sell assets they think should be kept for public benefit, from airports in France to the oil business in Mexico.

One major donor, the U.S. Agency for International Development, though, thinks it’s a good idea for Vietnam to move toward more private sector involvement. In recent years it has promoted U.S. companies to work on Vietnamese development projects, such as energy and smart cities.”

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USAID provides development assistance for market-oriented reform and trade facilitation, including implementing a program to reinvigorate the public-private-partnership business model here in Vietnam,” said U.S. Ambassador to Vietnam Daniel Kritenbrink last year. (VOA)