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City residents irked by poor cash flow to ATMs

Published On : 12 Nov 2016   |  Reported By : Courtesy : The Hindu   |  Pic On: photo credit: The Hindu


Mumbai (The Hindu): The common man, who was agog when demonetisation was announced on Tuesday night, appeared to be frustrated on the third day on Friday after the government failed to make arrangements for adequate cash dispensation, particularly at ATMs, here.

Very few ATMs across the city began to get cash by evening and long queues of anxious people were seen outside the kiosks.

Let alone for exchange of currency in the denomination of Rs. 500 and Rs. 1,000, cash was not available even for withdrawal from one’s account either in banks or at post offices at many places in this hub of economic activities in coastal Karnataka.

Most off-site ATMs across the region were non-functional till evening even as authorities started making arrangements to replenish the cash trays by Friday morning.

Senior officials at the State Bank of India said cash was being made available at limited quantities and the distribution is being rationed. The Head Post Office at Pandeshwar witnessed long queues since morning even as it received just Rs. 5 lakh in cash by noon. Another post office at Kankanady was yet to receive any cash even at the afternoon.

Ganesh, a retired government employee, who was waiting to exchange old currency notes at a SBI branch, said that the wait has become too long.

As a middle class person, he too supported the government initiative to eliminate counterfeit notes and black money. “But, how long should I wait to utilise my legally earned money,” he wondered.

Lalit Kumar, a retired bank manager waiting for cash exchange at a post office, however, said that people should not lose patience. “It is a very big exercise and takes time to settle down,” he said.

A senior official with a nationalised bank said that cash, in the denominations of Rs. 100 and below, was in good supply since Wednesday and there was no problem. With regard to non-availability of cash at ATMs, the officer said the vendors who fill the ATMs must be playing the spoilsport.







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