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Companies rolling out salaries before week, avoid cash riot

Kolkata, BEFI: The central government s not giving up to the pressure of the opposition parties and shall remain to it decision. It has declined to extend the deadline for old currency exchange till December 15.

Coming December 1st is the salary day for most and almost of the multinational companies. The Bank Employees Federation of India (BEFI) warned that the currency shortage will pinch more next week as people will be withdrawing their salaries from banks or ATMs.

It has said that hat the cash crisis is expected to continue for 4-5 months despite the promises of the government.

However, In the It companies and many other work places, where the salaries are mostly rolled out through online transition. Many of the It companies like Capgemini have decided to roll out their salaries by 25th to 28th November, to avoid chaos latter at the ATM’s.  We checked at many other small companies, most of them said they will be doing the same will be giving salaries before time.

However there are some companies who give late salaries like upto 5th to 10th of every month, no worry for the employees over there.

It should be known most if the money withdrawals happen at the start of the month, as cash need to pay to the daily works and rent.

A Girl living in one of the PG in banagalore, said that the PG owner needed cash, instead of online transfer of money; she said she has to arrange Rs 8000 cash to giving it to the owner, though she said she will fight the owner of the PG to convince him for wired transfer of money.

The situation "can turn worse" in a week or so if the customers face difficulties in withdrawing their salaries from banks and ATMs, BEFI said.