You are here: Home » Economy & Policy » News » Demonetisation
Business Standard

Cashless ATMs a new normal for common people

Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life

Press Trust of India  |  Kolkata 

Photo: Reuters
Photo: Reuters

Cashless ATMs is the new normal for people who are forced to stand in long queues in front of a few that are dispensing money.

To add to people's woes, ATMs which were operational in the morning hours were mostly dispensing Rs 2000 currency notes.

Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life.

The ATMs in rural Bengal remained mostly dry.

People are complaining that despite seeking to withdraw money within the weekly limits set by the government, bank personnel are asking them not to write the amount as the final amount would be decided by the bank.

"Functioning at the bank branch level in respect of limit to withdrawing money is widely different from what the government is claiming. Branches are declining to give cash up to the permissible limit of Rs 24,000 a week," a middle aged man standing in a queue said.

"Moreover the government itself is modifying rules almost on a daily basis," he added.

A cash management services company official said supply of new Rs 500 currency notes will improve in a day or two which will help in managing the dearth of high value notes to a great extent.

Most of the ATMs are been recaliberated to accomodate new Rs 500 notes.

manintained that it is meeting cash demand from ATMs and branches adequately.

Cashless ATMs a new normal for common people

Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life

Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life
Cashless ATMs is the new normal for people who are forced to stand in long queues in front of a few that are dispensing money.

To add to people's woes, ATMs which were operational in the morning hours were mostly dispensing Rs 2000 currency notes.

Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life.

The ATMs in rural Bengal remained mostly dry.

People are complaining that despite seeking to withdraw money within the weekly limits set by the government, bank personnel are asking them not to write the amount as the final amount would be decided by the bank.

"Functioning at the bank branch level in respect of limit to withdrawing money is widely different from what the government is claiming. Branches are declining to give cash up to the permissible limit of Rs 24,000 a week," a middle aged man standing in a queue said.

"Moreover the government itself is modifying rules almost on a daily basis," he added.

A cash management services company official said supply of new Rs 500 currency notes will improve in a day or two which will help in managing the dearth of high value notes to a great extent.

Most of the ATMs are been recaliberated to accomodate new Rs 500 notes.

manintained that it is meeting cash demand from ATMs and branches adequately.
image
Business Standard
177 22

Cashless ATMs a new normal for common people

Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life

Cashless ATMs is the new normal for people who are forced to stand in long queues in front of a few that are dispensing money.

To add to people's woes, ATMs which were operational in the morning hours were mostly dispensing Rs 2000 currency notes.

Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life.

The ATMs in rural Bengal remained mostly dry.

People are complaining that despite seeking to withdraw money within the weekly limits set by the government, bank personnel are asking them not to write the amount as the final amount would be decided by the bank.

"Functioning at the bank branch level in respect of limit to withdrawing money is widely different from what the government is claiming. Branches are declining to give cash up to the permissible limit of Rs 24,000 a week," a middle aged man standing in a queue said.

"Moreover the government itself is modifying rules almost on a daily basis," he added.

A cash management services company official said supply of new Rs 500 currency notes will improve in a day or two which will help in managing the dearth of high value notes to a great extent.

Most of the ATMs are been recaliberated to accomodate new Rs 500 notes.

manintained that it is meeting cash demand from ATMs and branches adequately.

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard