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People suffer due to cash crunch in Telangana, Andhra

IANS  |  Hyderabad/Vijayawada 

Three weeks after demonetization of high value currency, people in both and continue to face hardships.

There was no relief for the common man on the 20th day on Tuesday as people stood in long queues at banks and ATMs to draw cash.

At the regional office of Reserve Bank of India (RBI) in Hyderabad, people stood in queue since early morning to exchange the scrapped notes with new currency note of Rs 2,000.

"I am standing here for four hours. I earn Rs 300 every day but I will lose this income today because I am here to exchange four old notes of 500 each," said K. Ramakrishna, a daily wage worker.

With the month coming to an end, people were worried how to meet the monthly expenditure like paying rent and school fees for children.

There was no board at some bank branches in Hyderabad. At others there were long queues, testing people's patience.

At the ICICI Bank branch at Kukatpally Housing Board Colony, customers lodged their strong protest over non-availability of cash.

They entered into an argument with the bank employees. The bank staff, however, expressed their helplessness.

The staff argued that they had disbursed whatever they received for the day.

The situation was no different at the ICICI branch at Toli Chowki. The shutters were downed before noon.

Some customers were seen pleading with the staff to allow them to draw the cash.

They complained that the branch was citing crunch for last 10 days and the staff was not allowing them to draw more than Rs 6,000 in a day.

There was no improvement in the situation in public sector banks or their ATMs.

Only 10 to 15 percent ATMs were functioning. With new note of Rs 500 is yet to reach Hyderabad, there was no relief in sight for the people.

A daily wage labourer in Nandikatkur in Kurnool district of attempted suicide by consuming poison as he was not able to get change for Rs 2,000 for the last four days.

His family members said he was depressed as nobody was giving change for the high value note.

Angry customers damaged window panes of branch at Amaravati in Guntur district as the bank had no cash.

There was also heated argument between customers and bank officials at another bank branch at Pratipadu in Guntur district. Customers protested against what they said was the rude behavior of the bank staff.

--IANS

ms/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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People suffer due to cash crunch in Telangana, Andhra

Three weeks after demonetization of high value currency, people in both Telangana and Andhra Pradesh continue to face hardships.

Three weeks after demonetization of high value currency, people in both and continue to face hardships.

There was no relief for the common man on the 20th day on Tuesday as people stood in long queues at banks and ATMs to draw cash.

At the regional office of Reserve Bank of India (RBI) in Hyderabad, people stood in queue since early morning to exchange the scrapped notes with new currency note of Rs 2,000.

"I am standing here for four hours. I earn Rs 300 every day but I will lose this income today because I am here to exchange four old notes of 500 each," said K. Ramakrishna, a daily wage worker.

With the month coming to an end, people were worried how to meet the monthly expenditure like paying rent and school fees for children.

There was no board at some bank branches in Hyderabad. At others there were long queues, testing people's patience.

At the ICICI Bank branch at Kukatpally Housing Board Colony, customers lodged their strong protest over non-availability of cash.

They entered into an argument with the bank employees. The bank staff, however, expressed their helplessness.

The staff argued that they had disbursed whatever they received for the day.

The situation was no different at the ICICI branch at Toli Chowki. The shutters were downed before noon.

Some customers were seen pleading with the staff to allow them to draw the cash.

They complained that the branch was citing crunch for last 10 days and the staff was not allowing them to draw more than Rs 6,000 in a day.

There was no improvement in the situation in public sector banks or their ATMs.

Only 10 to 15 percent ATMs were functioning. With new note of Rs 500 is yet to reach Hyderabad, there was no relief in sight for the people.

A daily wage labourer in Nandikatkur in Kurnool district of attempted suicide by consuming poison as he was not able to get change for Rs 2,000 for the last four days.

His family members said he was depressed as nobody was giving change for the high value note.

Angry customers damaged window panes of branch at Amaravati in Guntur district as the bank had no cash.

There was also heated argument between customers and bank officials at another bank branch at Pratipadu in Guntur district. Customers protested against what they said was the rude behavior of the bank staff.

--IANS

ms/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

People suffer due to cash crunch in Telangana, Andhra

Three weeks after demonetization of high value currency, people in both and continue to face hardships.

There was no relief for the common man on the 20th day on Tuesday as people stood in long queues at banks and ATMs to draw cash.

At the regional office of Reserve Bank of India (RBI) in Hyderabad, people stood in queue since early morning to exchange the scrapped notes with new currency note of Rs 2,000.

"I am standing here for four hours. I earn Rs 300 every day but I will lose this income today because I am here to exchange four old notes of 500 each," said K. Ramakrishna, a daily wage worker.

With the month coming to an end, people were worried how to meet the monthly expenditure like paying rent and school fees for children.

There was no board at some bank branches in Hyderabad. At others there were long queues, testing people's patience.

At the ICICI Bank branch at Kukatpally Housing Board Colony, customers lodged their strong protest over non-availability of cash.

They entered into an argument with the bank employees. The bank staff, however, expressed their helplessness.

The staff argued that they had disbursed whatever they received for the day.

The situation was no different at the ICICI branch at Toli Chowki. The shutters were downed before noon.

Some customers were seen pleading with the staff to allow them to draw the cash.

They complained that the branch was citing crunch for last 10 days and the staff was not allowing them to draw more than Rs 6,000 in a day.

There was no improvement in the situation in public sector banks or their ATMs.

Only 10 to 15 percent ATMs were functioning. With new note of Rs 500 is yet to reach Hyderabad, there was no relief in sight for the people.

A daily wage labourer in Nandikatkur in Kurnool district of attempted suicide by consuming poison as he was not able to get change for Rs 2,000 for the last four days.

His family members said he was depressed as nobody was giving change for the high value note.

Angry customers damaged window panes of branch at Amaravati in Guntur district as the bank had no cash.

There was also heated argument between customers and bank officials at another bank branch at Pratipadu in Guntur district. Customers protested against what they said was the rude behavior of the bank staff.

--IANS

ms/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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