Amid heavy rush at bank branches, ATMs in Capital city, people having accounts at post offices did not get relief in spite of the fact that several post offices remained open on Sunday for financial transaction and for public convenience.
Post office officials blamed the slack back attitude of banks in fulfilling the cash requirement in case of urgency. Quite a few post offices on Sunday witnessed low footfall and account holders were either compelled to return back with less amount or even empty handed at some places.
Though post offices were ready with all basic amenities on Sunday after formally making an announcement in public interest but were not able to fulfill the requirement of their account holders entirely. Post office officials added they require at least 30 per cent more amount of what they are having at present to fulfill the public requirement.
“At present here at post offices, we require at least 30 percent more amount from banks. Due to fund crunch, employees have been instructed to limit the amount and distribute it accordingly. We have asked the bank officials for more cash, however looking at the present situation banks too are helpless and are doing its best to fulfill the cash requirement. For the time being, account holders have to adjust,” said, Senior Superintendent of Post Offices, KD Singh.
After the Union government decision to scrap old Rs 500 and Rs1,000 currency notes, public on fifth day as well queued outside both private and nationalized banks including post offices to exchange their cash for valid currency in Ranchi.
Post office employees claimed that after facing few initially hiccups and set back later all procedure went smoothly as the whole process was new to them earlier. People were asked to submit a filled form and a copy of identity proof to exchange the demonetized notes. The maximum exchange amount as stated by the Prime Minister was limited to Rs4,000 per day but most of the post offices here in State Capital have limited the cash transaction to Rs. 2000 per day due cash crunch.
“I am here to exchange my old currency notes and was expecting to get minimum Rs. 4,000 at a time. But after verifying the facts with the post office employee, they are bound only to give Rs 2,000 to each post office account holder. Employees are giving the plea of fund crisis at this moment,” said, a post office account holder at Ashok Nagar, requesting anonymity.