Millennium Post

Banks still grapple with huge rush, most ATMs run dry

Banks still struggle to manage huge rush of people thronging branches across the country to exchange invalid currency notes and get cash to meet their daily needs.

Despite some ATMs getting calibrated to dispense Rs 500 notes, such vending machines are running out of cash because of huge pressure of withdrawal.

Queues at some branches in the metros cities were seen slightly shorter for exchange of old currencies as the process of putting indelible ink has started from on Wednesday. As a result of this, those who have already exchanged old currency 

notes are unable to interchange again on the same day due to the ink mark. At the same time, the ATM recalibration exercise is also going on so that higher denomination currency notes are dispensed as soon as possible. 

With the government and RBI struggling to ease cash availability, the small businesses — from vegetable vendors to dhabas and small kirana stores — that use cash as mode of transaction were the worst hit. A bulk of daily labourers were rendered jobless as construction and other activities came to a standstill in the wake of cement, sand and other supplies not coming in.

Incidentally, after some TV channels had carried out sting operations following demonetisation of higher denomination notes showing how unscrupulous persons are involved in exchange of demonetised notes of black money in different sectors,  Delhi Police Crime Branch have been conducting raids. According to a senior cop in Crime Branch, the Ministry of Information and Broadcasting GOI sent CDs of actual broadcast to Delhi Police for taking appropriate necessary action in the matter. 

On Thursday, Crime Branch of Delhi Police, in association with Directorate of Investigations IT department conducted raids and searches at several places all over Delhi including the managers of Pakistani artists. 
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