The Andhra Pradesh Government has come up with a new initiative to reduce ongoing cash crunch due to the ban of 500 and 1000 notes. The AP Government is planning to give free mobile phones to economically backward people to carry out cashless transactions in the wake of the ongoing cash crisis.
Chief Minister of AP, Nara Chandrababu Naidu thought’s are going innovatively. Now, as a part of that, Andhra Pradesh Government is providing free mobile phones to poor people to use cashless transactions for purchasing goods.
On Thursday, Chief Minister Chandrababu Naidu came up with this proposal during a review meeting with RBI officials and bankers in Vijayawada. CM Chandrababu Naidu said, “Everyone needs a mobile phone for digital transactions, so we wish to deliver cell phones to the poor for using digital operations,” he said.
RBI officials in a meeting said that Rs 3000 crores worth new currency notes were expected to reach the state by 28 November and in those Rs 60 crores would be smaller values.
The Government is taking necessary activities to reduce cash crunch and the CM asked the bankers to analysis the situation constantly with their top officials through teleconference, till the problem ends.
RBI representative Hari Sankar, Andhra Bank deputy general manager GSV Krishna Rao and other senior officials graced for the meeting along with Chief Minister Chandrababu Naidu.