Millennium Post

No need to be anxious, enough cash available, assures RBI

The Reserve Bank on Sunday said enough cash is available at banks and people need not be anxious and make repeated trips to branches and ATMs to hoard money.

“The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks.

“The Reserve Bank urges that public need not be anxious; need not come over to banks repeatedly to draw and hoard; Cash is available when they need it,” the central bank said in a statement.

There was little respite for cash-starved people queuing up outside banks and ATMs on Sunday, with branches witnessing unprecedented rush since early morning.

Due to bank closure on Monday in some parts of the country, distressed people are thronging branches since most of the ATMs are out of cash.

Earlier too, RBI had assured of no cash scarcity in the banks and atms but their assurance failed to comply with the situation as after standing for hours in the queue people failed to get their money neither exchanged nor withdrawn. With the passing time situation turned out to be gross due to the lack of money in the atms as well as in the banks. 

Though atm machines are loaded with cash on regular basis but within an hour machines run out of money leaving public frustrated and displeased. 

Several machines are still not in working condition making them immobile  adding to the woes of the public. Public are found standing in queues for hours in front of the banks and atms to much of their dismay. 

Much to people’s dismay, only 60 per cent of ATMs got valid currency feed five days after Prime Minister Narendra Modi announced surprise demonetisation of two higher value currency notes. 

Even these 1.2 lakh ATMs (out of total 2 lakh) are running out of cash in few hours, leaving people frustrated. 


Our contributor helps bringing the latest updates to you

Share it