CM offered loan by friend

In a funny incident narrated by the Telangana Chief Minister, he said his friend rang him up to offer him a loan summing to Rs 4 lakh in 500 and 1000 rupee notes, after learning that the CM had only Rs. 10,000.

By Author  |  Published: 14th Nov 2016  3:42 pmUpdated: 15th Nov 2016  6:05 pm
Demonetisation
File photo: Telangana Chief Minister K Chadrashekar Rao.

Hyderabad: Trust friends to offer help in situations of dire necessity, whether perceived or real. There was this unnamed friend of Chief Minister K. Chandrasekhar Rao who offered him a loan of Rs 4-5 lakhs, if the latter needed money urgently. Having read in a vernacular daily that the CM had only Rs 10,000, which he withdrew from his bank, after the demonetisation of Rs 500 and Rs 1,000 notes came into effect, a ‘friend’ called him up and offered the loan.

An amused Chief Minister declined the offer, but asked the man as to how he managed to get Rs 4-5 lakh. “I had some money and I managed to get some,” was all the ‘friend’ would disclose. The Chief Minister narrated this incident to his close confidantes, while reviewing the situation arising out of the demonetisation of higher currency.

Meanwhile, people in the rural areas of the State, who continue to follow a cash economy and farmers and small traders who store cash after selling their agricultural produce or livestock, are still unaware about demonetisation. “They don’t even know that any amount above Rs 2.5 lakh is illegal now.” The repeated assertions that any money held by an individual above Rs 2.5 lakh is illegal is driving many to despair, the CM is believed to have said.