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‘Salary, pension to be affected due to shortage of notes’

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‘Salary, pension to be affected due to shortage of notes’
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Thiruvananthapuram: The State government on Tuesday said the salary and pension distribution to its employees was likely to be affected due to shortage of currency in treasuries.

Finance minister T.M. Thomas Issac said that even though government has funds for the disbursement of salary and pension for the month of April, its distribution was likely to affected as RBI has not supplied enough notes.

Several treasuries in the state have shortage of currency, Issac said adding this has happened at a time when the state government was getting ready to disburse three months welfare pension arrears in view of Vishu and Easter festivals.

Though the government would transfer necessary funds for the distribution of welfare pension to the cooperative banks, government has concern whether it would reach the benefices due to note crunch.

State government has asked the RBI and SBI to immediately intervene on the matter, he added.

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