No need to worry, says Krishna J Palemar


TNN, 16-11-2016 07:12:26


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No need to worry, says Krishna J Palemar

MANGALURU: Former minister Krishna J Palemar on Tuesday exhorted people not to get worried or be caught in confusion over the Union government’s move to demonetize high value currency. Banks have expedited the process of supplying adequate quantities of new currency notes of Rs 2,000 and Rs 500 denomination and the situation is expected to ease once the Rs 500 currency notes hit the market. Currency operations will return to normal in a month, he surmised. .

 Addressing reporters on Tuesday, Palemar said legally earned money of all honest citizens will be protected. It is imperative that citizens cooperate with the government at a time when it has taken a historic decision to rid the country of the evils of black money and resultant ills, he said adding people will start to reap the benefits of this move sooner than later. The benefits of the move will straddle all sectors including real estate, education, health and so on, he added. 

No money in Udupi ATMs 

 There was no queue in front of the ATMs on Tuesday in Udupi because almost all the ATMS in the city were closed as there was no money in them. People were seen running from pillar to post to arrange from some cash

Vasundara Devadiga said, "I come from Kundapur to Udupi to work in a private company here. I need cash to pay bus fare. I went to six ATMs, but none of them are open as there is no currency in them." 

 Sushila Nada, a scheduled tribe leader said, "Tribal communities in Udupi are struggling badly due to ban of Rs 500 and Rs 1,000 notes. People of the community do not own any identification proof with them including ration and Adhaar cards. Most of them stay in the forest areas and the lands they use belong to their ancestors. There are 16,000 members in the community at Udupi and Dakshina Kannada." 

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