Tuesday, 17 April 2018

Cash Crunch Reported At ATMs In Many States, Some Not Working

Cash Crunch Reported At ATMs In Many States, Some Not Working

A cash crunch has been reported in ATM in several states of India, including Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh and Telangana. People in Delhi have also been tweeting about non availability of cash at ATMs. In south Delhi’s RK Puram and Khanpur many ATMs have run dry say residents.
In Hyderabad office goers have told news agency ANI, that they have been unable to withdraw cash from ATMs in several parts of the city since yesterday. There are reports from Varanasi as well of people saying there is no cash at ATMs since yesterday.
Life has become miserable for majority of residents, especially traders. People are having a harrowing time in the scorching heat running from one ATM to another in search of money.
Sandeep Chourasia, a contractor in Bhopal, reached New Market at around 8.45 am on Monday to withdraw cash from an automated teller machine. From one ATM to another, he went around the market area on his bike, but was disappointed to find that all the ATMs had run dry.

Irrespective of the fact whether the ATMs belong to public or private sector banks, there is no cash, he said. In fact, Chourasia started his search for cash from old Bhopal area and hopped from Bus Stand, Hamidia road, Peergate to New Market only to find all the ATMs without cash.
One bank official said, “There is indeed a cash crisis. As and when people find cash they withdraw more than what they need leading to further crisis.”
Another banker said, “For the past few days, many bank branches don’t receive enough cash, not enough to fill up the ATMs. Many times, bigger currency notes like Rs 2000 are missing. People seem to be holding them back.” Efforts to take version of the State Bank of India, with largest number of ATMs ,did not yield any result.
Reports suggest officials of the finance ministry has held a meeting with the Reserve Bank of India to take stock of the situation.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan today claimed that Rs. 2,000 notes were vanishing from the market, and alleged that there was a “conspiracy” behind it.
Addressing a farmers’ convention, Mr Chouhan said, “The currency worth Rs. 15,00,000 crore was in circulation before demonetisation. After the demonitisation exercise, the currency in circulation increased to Rs. 16,50,000 crore. But notes of Rs. 2,000 are missing from the market.”
He had taken up the issue with the Union Government, Mr Chouhan added.
With inputs from PTI & ANI


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