The Gautam Budh Nagar district administration has asked all banks to make special arrangements for December 7, when industries in Noida and Greater Noida will release salaries.
District magistrate N. P. Singh held a meeting with regional managers of all banks on Tuesday. Mr. Singh asked the banks to furnish estimates of how much cash was withdrawn every month since September. He also advised banks to start opening zero-balance accounts to facilitate banking for minimum-wage earners.
Mr. Singh told The Hindu that the estimate for monthly withdrawals was requested to get an idea of how much cash banks should keep with them on Wednesday.
“Based on cash withdrawal trend, the banks have been asked to maintain the amount they had on the 7th of previous months,” Mr. Singh added. The administration is also asking labourers to open bank accounts and avoid withdrawing cash in one go or holding the cash.
The district has over 10 lakh minimum wage earners, who have till now received their salary only in cash.
(The writer is a freelance journalist)
