Cash crunch continues in Jaipur, may take 50 days to revive

Even after the passage of a month since demonetisation, cash crunch continues to trouble Jaipur residents with the situation showing no signs of revival at least for the next 50 days, according to an official.
People can be seen queuing up in all prominent bank branches, state general secretary of Rajastham State Bank Employees Union, Mahesh Mishra told PTI.
He added that normalcy is unlikely to return even in the next 50 days going by the current situation of cash flow.
Reserve Bank of India has disbursed Rs 12,000 crore new currency notes to the banks in Jaipur, but the cash crunch is evident in all major banks.

Cash is available only during the mornings but that too till a certain limit. ATMs are only dispensing new denomination notes of Rs 2000, adding to the woes of the residents.
However, Monika Choudhary, an employee at a leading private bank said that the rush in banks and ATMs has begun to reduce. However, she added that normal cash flow may take some more time. "We have cash in ATMs, but the notes are in denominations of Rs 2000," she said.

One can withdraw Rs 2,500 including one Rs 2,000 note and five Rs 100 notes, said Choudhary.
Bank officials believe that the use of indelible ink to prevent multiple cash withdrawals has helped reduce crowding at exchange counters.

Despite difficulties in withdrawing cash at banks, those using cashless means like internet banking, e-wallets are hardly facing any problem.
Dr Kalpit Sharma, a city resident said, "Withdrawing cash may be a problem for people in rural areas who do not have bank accounts but for me demonitisation did not create any major problem.
It took hardly 10 minutes to withdraw money from bank. I am also using e-banking facilities so transaction is easy for me.