Cash Casualty: Bhopal revisits DeMon days, ATMs run dry

  • | Wednesday | 18th April, 2018

On the roadside, aam panna and jaljeera sellers have also been hit by the cash crunch. As per bank officials, more than 50% of the ATMs in the city are running dry. The demand of currency notes has increased suddenly. But this year, the demand has increased due to elections as well,” said an Axis Bank official.Businesses have slowed down as well due to the cash crunch. This becomes especially tougher as customers are refusing to pay by cash in the face of a crunch.

BHOPAL: In a situation reminiscent of the post-demonetisation days after November 8, 2016, people are experiencing a déjà vu of sorts, with ATMs across the state capital going dry.In a massive cash crunch , people of the state capital are seen visiting numerous ATMs but to no avail. As per bank officials, more than 50% of the ATMs in the city are running dry. All in all, around 180 of the city’s 355 ATMs, including those in the bank campuses, are running empty.Senior bank officials said that ATMs are out of cash because the currency notes of Rs 2,000 which were withdrawn after demonetisation were not deposited back in the cash machines. Furthermore, election and marriage dates have pushed the demand for currency.As per a senior official at a public sector bank, two meetings were held in the last two days regarding dry ATMs in the city. Branch managers have been instructed to refill ATMs and keep them running in all possible manner.According to officials, of the total currency notes of Rs 2,000 which were withdrawn following demonetisation, only 5% of them have been deposited in banks.However, bank officials said that even though government claimed that the value of Rs 1,000 and Rs 500 currency notes which were demonetised were successfully replaced in circulation with the printing of Rs 2,000 and new Rs 500 notes, it is their responsibility to think of a solution for public in the face of a cash crunch in banks.“We are trying our best to keep ATMs filled with cash but there are many which are running dry. It is due to lack of cash deposited back in the banks. The demand of currency notes has increased suddenly. Especially in these months, the demand is high due to weddings. But this year, the demand has increased due to elections as well,” said an Axis Bank official.Businesses have slowed down as well due to the cash crunch. Shopkeepers claimed that in the last few days, people prefer to pay digitally, while 60% of small businesses are not well versed with digital transactions. Due to this, sales in general have gone down. On the roadside, aam panna and jaljeera sellers have also been hit by the cash crunch. Drink sellers claimed that owing to the seasonal nature of their business they don’t get digital transaction applications installed in their carts. This becomes especially tougher as customers are refusing to pay by cash in the face of a crunch.

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