RBI to ensure supply of Rs.25,000 cr to meet currency demand of Telangana

Union Minister of State for Labour and Employment Bandaru Dattatreya today said that the Reserve Bank will ensure supply of another Rs 20,000 crore to Rs 25,000 crore in the next two to three months to meet the currency demand of Telangana. 

Banks in Telangana had received currency deposits of around Rs 70,000 crore during demonetisation period, while the Reserve Bank supplied new currency worth Rs 55,000 crore. In next two to three months the apex bank will meet the currency demand of the state, said Dattatreya. 

"Telangana banks received Rs 70,000 crore



deposits and they received Rs 55,000 crore so far. RBI officials said they will be supplying another Rs 20,000 crore to Rs 25,000 crore in the next 2-3 months. "There is a need to move to digitalisation to meet the currency shortage and also for the over all betterment of economy," Dattatreya told reporters here. 

The minister held meeting with the officials of State Level Banking Committee here. According to Dattatreya, the banks in the state have so far disbursed crop loans worth Rs 2,573 crore against the target of Rs 23,852 crore during the Kharif season.