Begin typing your search above and press return to search.
It doesnt end with Rahul hounding
access_time 25 March 2023 4:20 AM GMT
20 years after the Iraq war
access_time 24 March 2023 8:50 AM GMT
Are  Khalistanists returning?
access_time 22 March 2023 5:12 AM GMT
Trading votes for higher rubber price?
access_time 21 March 2023 5:26 AM GMT
Unmuting democracy
access_time 20 March 2023 6:21 AM GMT
Womens Day: Building a digitally equal world
access_time 8 March 2023 4:38 AM GMT
Women must arise now and embrace equity
access_time 7 March 2023 10:52 AM GMT
The criminal case against Vladimir Putin
access_time 27 Feb 2023 9:46 AM GMT
Censorship that stifles free speech
access_time 24 Feb 2023 7:02 AM GMT
Homechevron_rightKeralachevron_rightRBI to provide Rs 1200...

RBI to provide Rs 1200 crore to disburse salaries

RBI to provide Rs 1200 crore to disburse salaries

Thiruvananthapuram: The State government on Tuesday said the Reserve Bank of India would provide Rs 1,200 crore to the state treasury to disburse salary and pension as there is a "drastic reduction" in the state's revenue following demonetisation.

Talking to the media about the development, Finance Minister T M Thomas Issac said that from the amount, Rs 500 crore would be given to the banks while another Rs 500 crores would go to the treasuries. “The remaining 200 crore will be provided later,” Isaac said adding the employees can withdraw their salary from banks and treasuries from Wednesday.

An employee, however, can withdraw only Rs 24000 from the salary in a week. The restrictions put on ATM withdrawals will continue, the minister said.

"The non-availability of currency has put the government in a crisis. There is drastic reduction in the states revenue in the aftermath of demonetisation drive," Issac said, adding, the state government asked the Centre for money as there was shortage of currency in the state treasury to disburse pension and salary.

He said the state's unorganised labour sector was facing big financial crisis due to the demonetisation drive of Prime Minister Narendra Modi.

Show Full Article
Next Story