Telangana To Promote Cashless Transactions, Siddipet To Be Model Constituency

28 Nov, 2016 20:51 IST|Sakshi
Telangana aims to promote cashless transactions above Rs 500 in a big way.

Hyderabad: States cannot be mute spectators in the union government's efforts to clean the system of black money and in this regard Telangana will make all efforts to promote cashless transactions, chief minister K Chandrasekhar Rao said.

Addressing the media after the state cabinet meeting here on Monday, he assured Telangana's support to the Center's demonetisation decision if the measures taken to root out black money and corruption are implemented sincerely. "I have suggested to Prime Minister Narendra Modi about the measures for the effective implementation of demonetisation. Also, I have highlighted the problems faced by the common man in the state and submitted a letter to him in this regard. The same was also discussed during his visit to the state on Saturday to attend the DGP's conference," Chandrasekhar Rao said

Telangana Chief Minister K Chandrasekhar Rao

Speaking about the cabinet meeting, he said a special task force has been formed to study the impact of demonetisation in the state and the problems being faced by the people. Telangana will make all eforts to promote cashless transactions, he said and added that Siddipet Assembly constituency will made a modal for the entire state to emulate for this purpose. Transactions upto Rs 500 can then be made in cash while above that limit all transactions should be cashless, he said.

The Chief Minister added that to promote the cashless transactions among the people, the existing banking infrastructure is insufficient in the state. The state currently has 5,200 bank branches which include cooperative and nationalised banks, he said while adding that this number has to go up significantly.

Some of the important takeaways from the Chief Ministers address:

  • Introduction of TS Wallet to promote cashless transactions
  • Steps to ensure casual workers of GHMC don't lose work
  • Introduction of swipe machines at sub-registrar offices, fair price shops and all government offices
  • Telangana has 85 lakh Jan Dhan accounts
  • Steps to minimise impact on real estate
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