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'Availability of cash-dispensing ATMs continues to worsen'

Availability of cash-dispensing ATMs continues to worsen
Cash availability at ATMs across the country has deteriorated again following a brief improvement in January even five months after demonetisation, shows a survey.
The ATM outage level, which had improved in January and February, is showing deterioration in April.

In a survey conducted by citizen engagement platform LocalCircles, 43 per cent citizens said they could not find cash in ATMs on April 13-16. This number has worsened from the 36 per cent who had faced problems in finding a cash dispensing ATM on April 5-8.

Over 8,700 citizens from across India participated in this poll sharing ATM experiences in their areas.

The survey further said RBI's move to lift withdrawal limits on March 13 could be a reason as people have been withdrawing cash in bulk from counters and banks have been forced to maintain high liquidity.

This has led to maintenance of ATMs and frequent cash replenishment taking a back seat.

Moreover, people have been withdrawinglarge amounts from ATMs as some banks levy a transaction fee after four such withdrawals.
PTI

PTI

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