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Queues at ATMs, banks grow shorter but wait for cash continues

Press Trust of India  |  Mumbai 

Queues at most of the ATMs and banks across the city today were shorter than expected though there were complaints that dispensing machines were either dry or shut and customers could not draw the maximum permissible amount.

When asked about the situation, Central Executive Director R C Lodha told PTI, "We have made adequate arrangements to meet the higher demand for as salaries would be credited into customers account (as the month turns). In our there would be no shortage of cash."



However, many customers who went to banks today to withdraw money for their monthly expenses, a day ahead of the salary day, complained that they got very less cash, much below the withdrawal limit.

"I managed to get only Rs 4,000 this morning against the withdrawl limit of Rs 24,000 as I was told that there was hardly any supply to the banks in the last few days. I will have to wait and try my luck later in the day," said Swamy, a South resident.

Barring banks with huge customer base, the turnouts were lower as compared to the initial days of note ban. But in some places, the rush increased in the afternoon after banks were replenished with to meet customer demands amid fears of heightened crunch due to salary payments.

Many others complained about ATMs being shut in their area for a fortnight while some others said they were being given coins during high withdrawals.

"There are 4-5 ATMs of leading banks in my locality. But they have been shut since over a week, being dry on cash," said Animesh, a resident of Andheri.

However, they were a few who seemed to be unfazed by the chaos resulting out of the demonetisation move.

According to a Bhandup resident Hemang Palan, the situation on the ground has improved significantly compared to the panic in initial days leading to marginal rush and queues outside banks.

"The situation was chaotic in initial days but not now. I think people have realised that this move to demonetise high denomination notes is in the larger benefit of the people and hence they are bearing with the decision," he said.

Also, public has come to terms with the fact that it may take some more days to resolve the crisis entirely as most of the ATMs are yet to be recalibrated.

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

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Queues at ATMs, banks grow shorter but wait for cash continues

Queues at most of the ATMs and banks across the city today were shorter than expected though there were complaints that cash dispensing machines were either dry or shut and customers could not draw the maximum permissible amount. When asked about the situation, Central Bank Executive Director R C Lodha told PTI, "We have made adequate arrangements to meet the higher demand for cash as salaries would be credited into customers account (as the month turns). In our bank there would be no shortage of cash." However, many customers who went to banks today to withdraw money for their monthly expenses, a day ahead of the salary day, complained that they got very less cash, much below the withdrawal limit. "I managed to get only Rs 4,000 this morning against the withdrawl limit of Rs 24,000 as I was told that there was hardly any cash supply to the banks in the last few days. I will have to wait and try my luck later in the day," said Swamy, a South Mumbai resident. Barring banks with ... Queues at most of the ATMs and banks across the city today were shorter than expected though there were complaints that dispensing machines were either dry or shut and customers could not draw the maximum permissible amount.

When asked about the situation, Central Executive Director R C Lodha told PTI, "We have made adequate arrangements to meet the higher demand for as salaries would be credited into customers account (as the month turns). In our there would be no shortage of cash."

However, many customers who went to banks today to withdraw money for their monthly expenses, a day ahead of the salary day, complained that they got very less cash, much below the withdrawal limit.

"I managed to get only Rs 4,000 this morning against the withdrawl limit of Rs 24,000 as I was told that there was hardly any supply to the banks in the last few days. I will have to wait and try my luck later in the day," said Swamy, a South resident.

Barring banks with huge customer base, the turnouts were lower as compared to the initial days of note ban. But in some places, the rush increased in the afternoon after banks were replenished with to meet customer demands amid fears of heightened crunch due to salary payments.

Many others complained about ATMs being shut in their area for a fortnight while some others said they were being given coins during high withdrawals.

"There are 4-5 ATMs of leading banks in my locality. But they have been shut since over a week, being dry on cash," said Animesh, a resident of Andheri.

However, they were a few who seemed to be unfazed by the chaos resulting out of the demonetisation move.

According to a Bhandup resident Hemang Palan, the situation on the ground has improved significantly compared to the panic in initial days leading to marginal rush and queues outside banks.

"The situation was chaotic in initial days but not now. I think people have realised that this move to demonetise high denomination notes is in the larger benefit of the people and hence they are bearing with the decision," he said.

Also, public has come to terms with the fact that it may take some more days to resolve the crisis entirely as most of the ATMs are yet to be recalibrated.

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

image
Business Standard
177 22

Queues at ATMs, banks grow shorter but wait for cash continues

Queues at most of the ATMs and banks across the city today were shorter than expected though there were complaints that dispensing machines were either dry or shut and customers could not draw the maximum permissible amount.

When asked about the situation, Central Executive Director R C Lodha told PTI, "We have made adequate arrangements to meet the higher demand for as salaries would be credited into customers account (as the month turns). In our there would be no shortage of cash."

However, many customers who went to banks today to withdraw money for their monthly expenses, a day ahead of the salary day, complained that they got very less cash, much below the withdrawal limit.

"I managed to get only Rs 4,000 this morning against the withdrawl limit of Rs 24,000 as I was told that there was hardly any supply to the banks in the last few days. I will have to wait and try my luck later in the day," said Swamy, a South resident.

Barring banks with huge customer base, the turnouts were lower as compared to the initial days of note ban. But in some places, the rush increased in the afternoon after banks were replenished with to meet customer demands amid fears of heightened crunch due to salary payments.

Many others complained about ATMs being shut in their area for a fortnight while some others said they were being given coins during high withdrawals.

"There are 4-5 ATMs of leading banks in my locality. But they have been shut since over a week, being dry on cash," said Animesh, a resident of Andheri.

However, they were a few who seemed to be unfazed by the chaos resulting out of the demonetisation move.

According to a Bhandup resident Hemang Palan, the situation on the ground has improved significantly compared to the panic in initial days leading to marginal rush and queues outside banks.

"The situation was chaotic in initial days but not now. I think people have realised that this move to demonetise high denomination notes is in the larger benefit of the people and hence they are bearing with the decision," he said.

Also, public has come to terms with the fact that it may take some more days to resolve the crisis entirely as most of the ATMs are yet to be recalibrated.

(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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