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Note ban pain returns as ATMs go ‘dry’

Note ban pain returns as ATMs go ‘dry’

The announcement of demonetization last year had led to long queues and chaos at ATMs and banks for some days. However, with time passing normalcy had returned. But it appears that the queues are returning back at ATMs.

It was on Tuesday when a few students were seen standing outside ATMS located just outside the campus, said eyewitnesses, adding that even on Wednesday some students were seen standing outside with residents claiming that many ATMs have gone dry.

An Okhla resident said for the last few days he found an ATM at ITO going dry. Whenever I go to the ATM, I found it dry, said the resident. Another resident in Noida said some ATMs are not being replenished in the locality following which the pain is back.

HT too carried a front page report on the topic. “Typically, the salary cycle is on till about the 8th of any month… ATM functioning is near-normal and there has been no major problem, banks have ensured there is enough cash for ATMs,” said Rituraj Sinha, president of the Cash Logistics Associations, an umbrella body of firms which manage the country’s 2.2 lakh-odd cash-dispensing machines as reported by India’s leading daily.

“There is significant cash constraint even today and people especially those who are working in the unorganised sector are once again going through a lot of pain. Many ATMs still don’t have cash,” said CH Venkatachalam, general secretary of the All India Bank Employees’ Association.

“Our assessment is that the situation will be normal only around the month-end,” Soumya Kanti Ghosh, chief economic adviser of the SBI Group told the daily.

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