Millennium Post

Cash crunch, long queues continue

With cash crunch continuing among people, several banks and ATMs witnessed long queues on Saturday, the 38th day after the ban on high denomination notes.

The queues to exchange the old currency notes and at the same time to withdraw through cheques and withdrawal forms was much longer in comparison to depositing the old higher denomination notes — for which the last date set by the government is December 30. 

Several branches of IndusInd, Canara and Axis banks — all situated adjacent to each other in Yusuf Sarai area of south Delhi -- had at least 70-80 people waiting since early morning. Many of them said they were compelled to visit the banks regularly as the banks were giving a much lesser amount than the Rs 24,000 per week for every individual as directed by the government.

“I am compelled to stand in the queue for the last two days as I was given only Rs 2,000 yesterday due to scarcity of cash in the bank. Though I have been trying to withdraw Rs 24,000 through cheque... but the unavailability of sufficient cash in the bank is making it impossible,” said Brij Mohan, a driver working with a local legislator. A few of the ATMs which were dispensing money on Saturday morning also saw queues, with many individuals standing with two-three ATM cards.
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