Bank branches across the city, like most parts of the country, saw huge rush pouring in from very first minute of the banking hour on Thursday.
People supporting PM Narendra Modi of demonetizing Rs 1,000 and Rs 500 notes started gathering at many bank branches from as early as 8 am. Every other visitor was waiting outside its nearest bank branch to collect at least a couple of thousands of rupees to meet its daily needs. However, people at various branches found complaining about non-availability of cash with the branch.
Though the Government had asked, and banks had claimed on their part, to be ready with sufficient amount of cash keeping necessarily huge inflow of visitors, most of the bank branches appeared exhausted with ‘arranged cash’.
Development Commissioner cum Additional Chief Secretary (Finance) Amit Khare visited SBI, PNB and Bank of India branches and expressed satisfaction with the way banks were dealing with impatient customers and visitors. He spoke to many customers and suggested not to panic.
Visitors at lalpur Chowk, Bariatu, Upper Bazaar, Old HB Road, Doranda and many other parts of the city during morning hours did get their old notes exchanged and money withdrawn within permissible limits. But many of those visiting to already swallowing branches in second half, were not as lucky as others to get even daily operating cash.
Heated arguments between bank clerks and visitors were also not uncommon at some branches, including SBI branches at HB Road, Doranda and Upper Bazaar, IDBI branch at Bariatu and a couple of other locations. However, policemen were found mediating there. City SP Kishore Kaushal said that no unwanted event took place during the day.
“My daughter has to catch train today to Delhi for her interview on day after tomorrow. But I am running completely out of cash. Even I am not sure that cash will be available in the bank by the time my turn comes if I stand in queue,” said a SBI customer Rajiv Singh at Upper Bazaar branch.
A senior official from the same branch admitted that the branch was having limited cash, hence it was not giving anyone more than Rs 2,000. “We are operating on limited availability of Rs 100 and Rs 50 notes. Hence, we are neither sending anyone back with no cash, nor giving anyone more than Rs 2,000 for today. I believe it’s a matter of another one day. Once ATMs start functioning from Friday, the branches see visitors decreasing. Meanwhile, cash inflow will also increase tomorrow and day after,” said the official seeking anonymity of bank’s internal rules and regulation grounds.
But those who full heartedly banked upon the Union government’s decision to wipe out two largest old denomination notes, had only to return from bank branches with empty hands . Thousands of customers and visitors returned from nearest bank branches with their older notes still in pockets.