New Delhi: Stating that around four lakh trucks are stranded in various parts of the country, the apex transporters body AIMTC on Monday demanded immediate increasing of cash withdrawal limit from ATMs and banks to avoid crisis.
All India Motor Transport Congress (AIMTC), claiming to have 93 lakh truckers, 50 lakh buses and tourist taxi and cab operators under its fold, said at least eight lakh drivers and conductors were severely impacted in the wake of de-legalizing of Rs 500 and Rs 1,000 currency notes.
“Our about 4 lakh trucks are stranded across India with about 8 lakh drivers and conductors severely hit. The sudden ban on higher denomination notes have made them stand in long queques before banks in different parts.
The withdrawal limit is minuscule with ATMs at many places not working and paralysing the transport business,” AIMTC president Bhim Wadhwa said. Demanding immediate increasing of withdrawal limits, he warned that essential supplies would be impacted.
Note scrap hits biz of retail, wholesale
Retail as well as wholesale trade has been “affected severely” due to the demonetisation of the high value currency, traders body CAIT said on Monday. “The commercial markets wore a gloomy and deserted look. Since demonetisation, consumer footfall is very less. Not only the retail activities but even the wholesale trade is affected severely because of very low volume of transportation of goods,” it said in a statement.
CAIT has urged finance minister Arun Jaitley to take remedial measures to increase adoption of electronic payments besides ensuring smooth flow of currency both at the hands of traders and consumers. It suggested organising special camps in the markets for disbursement of currency.
Post demonetisation, it said, trade in markets across the country has reduced to 25 per cent in comparison to normal days. Government demonetised Rs 1000/ Rs 500 currency notes last week in a bid to crackdown on black money. People have till year end to exchange and/or deposit the junked notes.
Bank unions blame centre for chaos
Two leading bank unions on Monday criticised the government over demonetisation of Rs 500 and Rs 1,000 notes, saying the move has led to “financial chaos” across the country. In a letter to Indian Banks’ Association (IBA), All India Bank Officers’ Association (AIBOA) and All India Bank Employees Association (AIBEA) said the decision to withdraw the high-value notes was taken without proper planning or preparation.
They also highlighted heavy work pressure on employees and officers at bank branches in the wake of demonetisation which has led to customers rushing to exchange the now defunct notes. “Chaotic situation is prevailing at the bank branches and this is unbearable for both customers as well as bank employees and officers,” S. Nagarajan, general secretary of AIBOA, and C H Venkatachalam, his counterpart at AIBEA, said in the letter to IBA, the apex body of bank managements.
