Demonetization effect: JK Govt to release part salary in cash for current month

   

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Representational Picture
Representational Picture

The Jammu & Kashmir government Saturday announced to release part salary for the month of November 2016 to all non-gazetted/class-IV employees in advance in cash.

This according to the spokesman was done “to alleviate the inconvenience faced by the employees and general public due to demonetization.

The decision was taken in a meeting to review the inconvenience faced by the employees and general public due to demonetization and subsequent directions passed by the Chief Minister Mehbooba Mufti.

Giving details, the Finance Minister, Dr Haseeb Drabu said as per the directions of the Chief Minister, Rs 10000 out of the salary for the month of November 2016 will be paid in cash by November 24 to all the non-gazetted employees of the state government.  He according to spokesman said  “due to demonetization of Rs 500 and Rs 1000 currency note, there has been acute shortage of currency notes in circulation resulting in inconvenience to the cross-sections of society and in particular, lower income sections of the society including Non-Gazetted/Class-IV employees.”

Drabu further said that the employees  who do not wish to receive the cash pay-out of the part salary in advance may give their option in the prescribed proforma to their respective Drawing & Disbursing Officer by  November 22, 2016.

“In that case, their salary will be credited to their account on the last working day of November 2016, as usual,” he said adding that in case no option is received by the said date, it will be presumed that the employee has opted for cash pay-out and the payment thereof will be disbursed in cash accordingly. “Residual part of their salary payable for the month of November 2016 will be released as per the existing procedure,” he said.

Quoting Drabu, the spokesman said that “he hoped that the move will mitigate the inconvenience of the employees to some extent as they will not be forced to queue-up in the banks and thereby rush in the bank branches will also reduce.”

To facilitate the process, directions in this regard has been issued to J&K Bank officials to have in place sufficient cash on November 24 at all treasuries units.

 

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