Tuesday, February 7, 2023

Banks receive Rs 567-crore from RBI, long queues at ATM continue


Jamshedpur , Dec. 13: Reserve Bank of India (RBI) has sent Rs 567-crore to the city banks to ease cash crisis. However, long queues were seen at banks as banks reopened after three-day holiday.

Kumud Jha, chief manager SBI Main Branch in Bistupur said that the huge consignment of Rs 567-crore from RBI Patna has reached and they have diverted it to various other banks having chest currencies.

For the first time that banks were closed for three consecutive days since the government announced scrapping of old denomination notes (Rs 500 and Rs 1000) on November 8 last.

He went on to inform that for the first time they have received notes of Rs 500 and Rs 100 notes in significant numbers along with Rs 2000 notes and hopefully this will ease the rush at ATMs to a greater extent. Directives have been issued to private service providers to fill up the cash on a war footing at all the ATMs.

Meanwhile, there were scenes of people standing in queues losing patience and engaging in heated exchanges with bankers.

Nishant Kumar, an employee of a private company, was in the queue. Sharing his situation, he said : “I had promised to pay rent to my landlord by Monday.

But I had no idea that banks would remain closed on Monday, too. I just have Rs 100 in my pocket, including some small change. I don’t know what to do. But now I have been informed that the ATms are issuing money and I am hopeful to pay my dues”.

A resident of Jugsalai that on Monday, not a single ATM was opened, adding to people’s frustration. He said: “ I urgently need cash to meet my every expenses. Moreover, an ATM is not just for withdrawing cash.

I need to change my pin number as I suspect that someone might have seen it. I was just been driving around for the past hour but none of the ATMs of my bank are opened. But today things seem to improving as I can see ATMs started working”.

A private sector banker said that although about 95 per cent of the two lakh-odd ATMs have been recalibrated, there is cash shortage due to logistics issue. ATMs are fed only once a day and most of them are running out of money quickly due to heavy withdrawals.

Bankers expect that the situation would continue for another 10-12 days. Bankers on the condition of anonymity said despite assurances by the Reserve Bank of India (RBI) and the government, they are not getting adequate cash from currency chests to meet the withdrawal pressure on account of pay day.

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