Can Govt help companies with cash withdrawal
We have a set up in hyderabad with ho here and branches in 3-4 other cities. Primary banking is in hyderabad with state bank. Branch offices need cash for petty expenses. Sbi banker says can help in hyderabad but not in other cities. What do we do. Demonetisation is what we support but its impacting business. Can commerce sme ministry write to banks. Only other option we have is to withdraw cash and dispatch a person to all cities which doesnt sound like digital india more
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When Govt is heavily pushing the society towards a cashless system this question is irrelevant. Thanks more
Dec 11
You can initiate a Mail Transfer from SBI Hyderabad with the words "Advise and Pay Mr./Ms.X ...( Identity details)....to the SBI branches in the other cities. When the authorised representative calls at SBI branch elsewhere, the branch can pay the amount to them in cash upon identification. This was being done before computerisation and the bankers should be aware of this. The other system was "Advise and credit Account No. of so and so" in which case the bank branch receiving the mail transfer would automatically credit the account. You could also raise a loan from SBI Hyderabad for the petty cash expenses of all your branches and the sums could be distributed to collection accounts of the branch offices from the Main account at Hyderabad. When the requirements of cash drawals are made clear to the SBI branches in other cities you would only have to send uncrossed bearer cheques (security risk) to your officials in other cities. Companies send cheques to their travelling sales personnel for salary and other expenses. You will not have to send someone carrying cash to your branches. This is negating the very existence of the banking system in India. Hope your problem is resolved. Regards, L.Kalavathi Retd. Bank Official Chennai,Tamilnadu, India. 7th December, 2016 more
Dec 07
Let there be Local Bank Accounts in cities where Branch is located. A limited amount can be transfered there through banking channel as per requirement which is a simpler way then trying to initiate a policy change by Finance Ministry. more
Dec 06
writing letters to govt may not serve purpose because it may take time better to approach court as emergency case informing in court not as a single man but as a group i.e. like association that business is dwindling & requesting court to direct central govt to follow other banks as sbi is following until cash position returns back to normal but while approaching court clear details like how business is getting affected should be informed so as to save commercial activities more
Dec 05
has anyone studied the chinese model or the european one . all we need is national character and not the mess we r into . more
Dec 05
