Soon after the ATMs went dry after the demonetisation of high-value currency notes on November 8, some people at Uruvachal in Kannur district of Kerala put a wreath outside the door of an HDFC ATM to mourn the death of the cash-dispensing machine.
Far from the problem being over even though the demonestisation drive is about to complete a month, the payday rush has literally brought most ATMs, and the banks too, to a grinding halt as they display ‘no cash’ sign and remain out of service.
While some of the opposition leaders including Trinamool Congress chief and West Bengal Chief Minister Mamata Banerjee have raised the problems being faced by the people vociferously, long queues outside cashless ATMs and banks do not make news anymore — that’s the new normal in the Indian banking industry.
People across the spectrum are at the receiving end of the government scheme who are having difficulty to withdraw their hard-earned money from the banks.
The retail market is in deep depression affecting the livelihood of millions across the country.
Bank officials complain that they are not getting much less cash to pay out to their customers compared to the pre-demonetisation level.
They are also the ones who have to bear the entire burden of executing the government’s scheme which many of them feel is shoddily implemented.