Letter to BS: Crisis at ATMs pushes govt to address demand for cash

This refers to “Crisis at ATMs pushes Centre to address 'unusual spurt in demand' for cash” (April 19). The financial system has been in crisis mode right from the day of demonetisation. This was followed by the unfortunate announcement on the recapitalisation plans prompting more anxiety and uncertainty. Andhra and Telangana are prime examples of the lack of trust in our banking system with all the financial scandals running into thousands of crores. Inflation too has added to the need to use more cash. People feel cash on hand is a safer option than in banks with the reputation of our banks taking a huge hit. India will truly become a cashless economy that seems to be the stated goal of our government. 

H N Ramakrishna  USA

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