Adding a little respite to bank officials and anguish to smaller denomination notes starved common citizens, banks are going to remain closed on Monday on the occasion of Guru Poornima. It means that those who couldn’t get their older Rs1,000 and Rs500 notes replaced by Sunday will have to wait for Tuesday.
Though banks have claimed keeping their ATMs full of cash for the day, yet limited capacity of ATMs since last three days has left little space for any hope to those going to stand in queues for cash today.
Despite assurances from Reserve Bank of India (RBI) and other public sector lenders, cash availability for end-users remained an as usual concern on Sunday. Bank branches remained opened only to cater to limited number of visitors seeking smaller denomination notes, or at least get their older Rs1000 and Rs500 notes changed with newly launched Rs2,000 notes. Even ATMs were seen working, but only till they dispensed the last Rs100 note. None of the ATM was refilled the moment it exhausted, leaving the queue disappointed.
Though most of the branches of Allahabad Bank, Punjab National Bank (PNB), State Bank of India (SBI) and IDBI Bank among a few were catering to their home branch customers with upper limit of withdrawal in a day (Rs10,000), those going to banks for getting their older Rs1,000 and Rs500 notes remained at receiving ends. Most of the bank branches restricted change limit of Rs4,000 a day as announced by the Union Finance Minister to Rs2,000 a day due to shortage of Rs100 and Rs50 notes.
“RBI has tried its best to maintain supply of Rs100 notes and newly launched Rs2,000 notes. However, we have no hesitation to admit that demand has been beyond our expectations. We still don’t have any shortage of currency. But real issue is with transportation,” said a senior RBI official in the state seeking anonymity.
ATMs have undoubtedly eased some pressure from bank branches, as people have shown tremendous amount of patience for last three days. However, many of them couldn’t hide their restlessness on Sunday. “Why can’t banks run a few mobile ATMs like Mumbai for at least two-three days. I am just fed up standing in queues from this ATM to that ATM. I can’t leave my whole day job to run after ATMs. It is 5th ATM I am trying today only to get Rs2,000. But before my turn comes, the ATMs get exhausted,” said a distressed Sunil Kumar at an IDBI Bank ATM at Bariyatu.
Additional Chief Secretary and Development Commissioner Amit Khare said today that currency notes worth around Rs1,000 Crores, mostly Rs100 notes, had reached in the city to be filled in ATMs by first half of Monday. He also said that half of some 1,115 SBI ATMs in the city remained dysfunctional so far, which was resulting in pressure over other ATMs.
A senior official from SBI said that most ATMs in the city were run by third party, which found it difficult to refill ATMs twice or thrice a day.
“We have requested our main branch to permit us to fill branch-attached ATM at branch level itself. However, the complex technology transfer from that third party to us would consume more than a week. So, we have dropped that idea,” added a senior official of the Allahabad Bank.