Noamundi, Nov. 18: The banks in iron ore region Noamundi and Barajamda is facing huge cash crunch after demonetization scheme came into effect.
Barajamda state bank has no cash available while the ATM is opened gets empty with one and half hour. ATM of Noamundi is functioning but people are seen standing in long queues.
The NKPK Mines Manager Mukherjee said, due to poor supply of cash to the banks in Bada Jamda, there is a chaotic situation. A large number of people stand in queue to exchange their money in but only a few succeed in completing their task.
People have to visit the bank regularly for two or three days to gets their old notes exchanged. Mines manager further said, street vendors are the worst hit but people are happy that things will be good in days to come.
A contractor in Noamundi said, there is corruption spread everywhere and PM Modi’s decision would definitely put capping over the corruption of bureaucrats, we welcome the move of the prime minister for the good of the nation.
One of the government officer of Noamundi block said, the nation is enlisted in the category of 10 richest nation globally within a span of one week since the declaration of demonetization. .