UBI brings respite from cash shortage woes

STAFF REPORTER IMPHAL, 13th Apr: Inconveniences being faced by the people due to acute shortage of cash in most bank branches in Imphal and greater Imphal areas is likely to be eased to some degree as cash amounting to Rs 80 crore has been brought to SBI main office here from Moreh branch of United Bank of India (UBI) on Friday.
As a part of temporary arrangement initiated by SBI with the consent of Reserve Bank of India, the transportation of cash from the UBI branch was carried out with security escorts of state forces.
According to information received from the SBI Regional Branch Office, Imphal, an amount of about Rs 2 crore has been despatched for replenishing SBI ATMS soon after the cash reached the state capital.
The official also conceded that there is no confirmation on when the SBI chest branch located at Guwahati will allocate the cash remittance to the SBI Imphal branch.
While conveying that the total sum brought from the border town might last for only 3-4 days, an SBI official stated that in addition to constant communication with the RBI authority for sending cash remittance the government of Manipur has been urged to do the needful for bringing an early solution to the cash shortage situation.


© 2016 - 2018 The People's Chronicle. All rights reserved.