No Cash in ATMs, FM Says Temporary Shortage

At 2pm she was hunting for an ATM with cash on Fraser Road. Banking Secretary Rajiv Kumar said things would improve in a week.

“The most-affected are students who live in Patna to prepare for competitive examinations”, said Rajkumar from Nalanda district, in Patna preparing for competitive examinations, who was looking for a working ATM at Patna Junction at around 1.30 pm on Tuesday. Lesser number of Rs2,000 notes also mean that banks will have to refill cash in ATMs frequently, which itself has associated costs. The situation is much worse in villages and tribal belts of Gujarat. “The government and the and RBI are looking into the matter”, Minister of State for Finance Shiv Pratap Shukla told ANI.

The chairman thanked the general public, especially the customers of the bank for bearing the inconvenience caused to them in absence of sufficient cash.

“We do not know what or where the problem is but the common man is facing difficulty as the ATM kiosks are not dispensing cash”. Karnataka is heading for elections because of which the cash has been blocked in the state. “We will be printing Rs 2,500 crore (in value) every day of Rs 500 denomination alone in a few days”, said Garg.

Indore: The cash crunch has hit the city, which brought back memories of mad rush of people in banks after demonetisation was announced by centre one and half years ago. He said, “I was in Delhi for party work on April 13 and 14″.

She demands that the “money that the BJP has earned from cleaning off the banks, is returned, and ATMs are made operation again”. However, in the past few months, it has been a different story. “BJP government has created artificial crisis of cash so that common man can not withdraw their hardearned money from the bank”.

Many ATMs ran dry across the country and outside the main metros due to a cut in supply of high denomination Rs 2,000 notes and higher withdrawals owing to election eve cash demand surge in Karnataka and social media rumours of cash shortage.

The cash crunch at ATMs of nearly all banks in the city has taken the public by surprise. “Some ATMs are closed for no reason”. Then there are ATMs that are non-functional.

Meanwhile, Union Finance Minister Arun Jaitley tried to allay fear of a long-term cash shortage in the nation saying the problem was temporary and the government was working round-the-clock to come up with a resolution quickly.

As MP reels under the cash crunch for the third consecutive day, the Prime Minister’s Office is reportedly taking stock of the situation.

Many residents from areas such as Anisabad, Raja Bazaar, Phulwari, Sachiwalaya, Rajendra Nagar, Kankerbagh said the cash crunch has been on for nearly a week. Big notes missing. Reminder of #DeMonetisation days. Hence, banks are loading Rs. 100 and Rs. 500 notes in ATMs.

Presently, cash circulation in the country is seen as being around Rs 19 lakh crore, marginally higher than the figure of of Rs 17.4 lakh crore in November 2016, just before the demonetisation decision. “There has been an imbalance due to the crop procurement season, when demand for currency goes up”.

SBI chief says ATM woes to be resolved by tomorrow; bank allows cash withdrawal through PoS machines

 

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