The mad rush has already started for more than a month in the proposed new capital region of Andhra Pradesh near Vijayawada with hordes of money being circulated in the local rural marketplace.
There are reports that currently transactions to the tune of 400-500 crores are being recorded regularly and so much cash is actually floating around now, which is as expected more of black money.
In order to capitalize on the registration mania, more than fifteen public sector banks are reportedly planning to immediately launch operations in the hitherto unexplored rural belt. Usually it takes weeks and months for sanctioning a new branch and to refurbish the physical infrastructure in commercial buildings.
But in order to not miss the transactions involving this mad rush of real estate deals, banks are rushing to the region and even launching operations in tents with full security, before locating any permanent building.
