LDF Government had asked for Rs 127 crores from RBI for distribution of salaries and pensions at the beginning of the month.

Five Kerala Treasuries still await money financial crisis in state worsens Photo by Sreekesh Raveendran Nair
news Crisis Friday, December 02, 2016 - 16:03

Friday saw Rs 57 crores being delivered to Kerala state Treasuries. According to the news update from the state Finance minister’s office at 11 am, the LDF Government had asked for Rs 127 crores from RBI for distribution of salaries and pensions at the beginning of the month.

50 Treasuries are yet to receive money, with Treasury officials still waiting in banks to withdraw money for further disbursement. Of the 12 Treasuries that were left high and dry on Thursday without any money coming in till Thursday evening, five continue in the same state even on Friday.

On Thursday, Treasuries all over the state saw long queues since morning, with mostly pensioners waiting patiently to draw their monthly pension on the first day of the month. Giving them company were people whose salaries are credited in the Treasury Savings Bank.

At a press meet on Thursday, Kerala finance minister Dr. Thomas Isaac had reiterated that the financial crisis in the state Treasuries could worsen in the state already reeling under the recent demonetization blow by the Centre.

Special instructions were issued to all Treasuries to let people know which ones had enough money to dispense, with Core Banking ensuring easy implementation of the same.

The Directorate of Treasuries credit the salaries of around five lakh people in the state directly into their bank accounts, while around 50,000 people withdraw cash from the various Treasuries in the state. 

 

 

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