Goa banks, co-operative agencies to keep branches open: Official

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SME Times News Bureau | 02 Apr, 2020
The Goa government on Thursday directed banks, co-operative societies and co-operative credit societies to keep their branches open, in order to mitigate the rush expected in the first week of April on account of money scheduled to be deposited in accounts of beneficiaries of central and state government schemes.

At a meeting of officials of banks and other financial institutions chaired by Finance Secretary Daulat Havaldar the latter took stock of cash availability in the state.

"The issue of possibility of crowding at bank branches and ATMs due to various transfers by government of India and state government to the beneficiaries was discussed. There is a fairly good presence of bank branches and ATMs across the state," a government spokesperson told reporters on Thursday.

"Registrar of Co-operative Societies was instructed to issue directions to the cooperative banks and co-operative credit societies to keep their branches open in order to ensure smooth functioning of cooperative banks and cooperative credit societies. The public sector banks and private banks were directed to open all their branches in the state," the spokesperson said.

Representatives of the Reserve Bank of India, who were present at the meeting, said that there is "sufficient cash required for the next six months" in the state.

"More than 85 per cent of existing ATMS are functional and adequate cash liquidity is maintained. SBI has started operation of one mobile ATM," the spokesperson said.