The Telangana State Cabinet would meet in Hyderabad on Monday to discuss the situation arising out of demonetisation of Rs 500 and Rs 1,000 notes by the Centre and the measures to be taken to address the concerned issues. The Cabinet would also discuss the measures to be taken to address problems arising out of demonetisation, a release from the Chief Minister’s office said. Chief Minister K Chandrashekhar Rao held a review with officials on the eve of the cabinet meeting.
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“There cannot be any stalemate in transactions (following demonetisation) since it concerned lakhs of people in the state,” he said. The Chief Minister emphasised the need to take effective measures by the state government to overcome the problems. Rao asked the Chief Secretary to gear up the Collectors and instruct them to discuss with bankers to educate people to move towards cashless transactions in future, the release said.
Noting that the finance department should work out on what they would do and what the government should do as a whole to address the issues following demonetisation, Rao approved the formation of a five-member Committee to work out modalities for preparing a policy towards cashless e-payment system.
Rao asked the Finance Secretary Ramakrishna Rao to prepare a detailed note on the impact, implications and other aspects of demonetisation of high denomination notes on the state to be tabled before the State cabinet on Monday. This would help the cabinet to take a view on issue, the release added.