Kolkata: Soon after tea garden owners sought the state government's intervention over cash problems due to the withdrawal of high-value notes, jute mills have approached RBI seeking a 'workable solution' to honour wage payments.
The Indian Jute Mills Association (IJMA) has written to RBI Regional Director (East) highlighting its plight in the wake of the scrapping of Rs 500 and Rs 1,000 notes and limited supply of new notes from the banks.
"We need to draw the attention that about 2.5-2.7 lakh workers are mostly being paid fortnightly wages in the 90 mills across the country. There had been limited success in attempts to get bank accounts for the workers," IJMA has said in the letter.
IJMA added that it will not be possible to disburse wages to the workers involving Rs 270-300 crore a month unless the notification is relaxed for the mills or a workable solution is derived.
The Indian Jute Mills Association (IJMA) has written to RBI Regional Director (East) highlighting its plight in the wake of the scrapping of Rs 500 and Rs 1,000 notes and limited supply of new notes from the banks.
"We need to draw the attention that about 2.5-2.7 lakh workers are mostly being paid fortnightly wages in the 90 mills across the country. There had been limited success in attempts to get bank accounts for the workers," IJMA has said in the letter.
IJMA added that it will not be possible to disburse wages to the workers involving Rs 270-300 crore a month unless the notification is relaxed for the mills or a workable solution is derived.
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