Cash crunch hits normal life, dampened the spirit of Milad-un-Nabi the birthday celebrations of Prophet Mohammed across the Bokaro, on Monday.
People found venting anger as most of the ATMs is running dry during the festivity, only three of the ATMs found loaded only with Rs 2000 currencies.
As the banks closed for three consecutive days and ATMs are still not functioning with its full capacity, the ongoing cash crisis hits the normal life, escalate the business, said Manoj a retailer at City Centre Sector 4 in Bokaro Steel City.
As the government and RBI set the maximum withdrawal limit from ATMs at Rs 2,500, people have to depend upon bank up to withdraw more money which leads to a severe cash crunch, said Krishna a BSl employee.
“Most of the ATMs are dried across the city while few of them are giving out only Rs 2,000 rather than the stipulated Rs 2,500, due to the shortage of Rs 100 and Rs 500 notes”, he added.
“This is the effect of the note ban; people do not have cash to spend on new goods or items during the eve of festivity, said Sahid adding “Most of the people are forced to save money for their bad time during festivities too”.