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Long queues, chaos continue at ATMs even as banks pump in cash

As ATMs opened on Friday, nearly 48 hours post Prime Minister Narendra Modi`s announcement that 500 and 1000 rupees notes will no longer be legal tender, long queues were witnessed outside the ATMs across the nation as people thronged to get new currency notes in lieu of the demonetised currency.


Long queues, chaos continue at ATMs even as banks pump in cash

Zee Media Bureau

New Delhi: As ATMs opened on Friday, nearly 48 hours post Prime Minister Narendra Modi`s announcement that 500 and 1000 rupees notes will no longer be legal tender, long queues were witnessed outside the ATMs across the nation as people thronged to get new currency notes in lieu of the demonetised currency.

Reserve Bank of India on its part, appealed to members of public to be patient and urges them to exchange their old notes at their convenience, any time before December 30, 2016.

People hoping for relief met with anxiety and frustration instead, as demand for new notes outstripped supply and machines went dry. Long queues of people outside various banks' ATMs waiting since morning were reported. 

However, by noon, several banks ATMs in some areas have been replenished with stocks of currencies and transactions initiated.

In a statement issued on Friday, the Reserve Bank of India has said that consequent to the withdrawal of Legal Tender Character of existing Rs 500 and Rs 1000 bank notes, it has made arrangements to distribute the notes in new Rs 2000 and other denominations across the country.

"There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country. Bank branches have already started exchanging notes since November 10, 2016", said the statement.

The Central Bank's communication added that it may take a while for the banks to recalibrate their ATMs; once the ATMs are functional, members of public will be able to withdraw from ATMs upto a maximum of ₹ 2,000 per card per day up to November 18, 2016; and after that withdraw up to Rs 4000 per day per card.

Several ATMs have started functioning from this morning as the banks could complete recalibration of these machines to allow withdrawals up to Rs 2000 to begin with.

The facility for exchanging the withdrawn denominations of Rs 500 and Rs 1000 is available for nearly 50 days. 

Many banks have not been able to complete recalibrate their machines for higher denomination notes. Banks have also been asked to provide all cash withdrawal transactions at their ATMs free of cost till 30 December. 

ANI reported long queues outside ATMs all across Delhi and ATMs in Lucknow, Many ATMs were not working in Noida as well that included those of ICICI Bank, Canara Bank and Corporation Bank.

Punjab National Bank ATM machines were switched off and shutters of Canara Bank ATMs were also  down in the morning hours. 

There were also been reports of minors scuffles and stampede outside ATMs across the country, and rapid action force deployed outside some ATMs.

Bank customers from Manipur to Jaipur, to down South- have gone online on social media platforms venting frustration at the "poor administration" by banks. As per reports, State Bank of India said normalisation of ATM services will take another ten days as the number of machines is huge but the vendors providing services are few. 

 

IANS reported that lakhs of people in Maharashtra were disappointed as thousands of ATMs did not dispense cash.

Long queues, heavy jostling and chaos was witnessed in Delhi outside banks as well as people thronged to banks to exchange notes. Queues extending to roads were seen outside the banks throughout the day.

Reports of dry ATMs were received from different parts of Mumbai including Dadar, Worli, Kandivali, Ghatkopar, though banks assured they were making attempts to replenish stocks. 

Reports of some ATMs running dry were received from Pune, Aurangabad, Nashik, Ratnagiri and other parts of the state, and key locations in Mumbai.

The withdrawal limit at ATMs is of 2,000 rupees per day per card for all the customers at bank ATMs.

A number of steps have been taken by bank authorities to facilitate withdrawal of money from ATMs, exchange currency at banks, withdraw money from accounts.

After November 19th limit of per day per card transaction will increase up to 4000 rupees.

Elaborate security arrangements were in place at the banks and post offices after they started public transactions. In the banks, people were asked to submit a filled form and a copy of identity proof to exchange the demonetized notes.

 

 

With agencies inputs

From Zee News

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