NEW DELHI: Despite promises that RBI will increase the cash supply in the first week of this month, coffers of many banks ran dry on Saturday. Queues were getting shorter only because there was no cash.
While the
HDFC Bank branch in Nehru Place has not received any consignment for the past three days, the SBI branch got cash after a gap of four days. Most customers were queuing up before ATM booths barring those with cheques who had no other options but to visit their banks.
There were complaints that even ATMs were in a mess. Out of every 10 ATMs, only two-three could be seen functioning properly. In east Delhi’s Pandav Nagar, only one ATM is working out of nine machines. Similarly, out of seven ATMs, only two are working in
Laxmi Nagar
. “I have scanned at least 12-15 ATMs since morning and 90% of them are either shut or out of cash. In fact, no one bothers to check the machines where there is no queue,” said Abhishek Anand, a resident of Preet Vihar.
People who have received their salaries visited the ATMs. Some people had withdrawn cash two-three times in the past few days to manage the week ahead. In Connaught Place, the queue outside an
ICICI Bank branch stretched up to two blocks in the first half of the day and 70% of people waiting in the line had to disperse after officials announced they were out of cash by 2pm.
“I cannot stand in lines every day. I did that in the first few days, but now I will have to manage with Rs 2,000 for the next 10 days. In fact, last month’s salary has still not been withdrawn,” said Manjeet Singh, who was standing in front of an SBI ATM in CP.
There were also people who tend to believe that the situation won’t improve in the coming week as well. In the second half of the day, most banks were out of cash and the shutters were partially shut. However, people kept coming to enquire about the availability of cash. Several banks lowered the withdrawal limit from Rs 50,000 to Rs 10,000, citing a shortage of funds.
Satish Raj, an employ with an IT company, said he came to the SBI branch in Nehru Place at 8am and was in the queue until 3.30pm. “There was already a line of at least 50 people when I came here. The cash came at 3pm and the people were waiting patiently. The bank officials took almost half an hour to process my cheque. In fact, I had come with two cheques but they told me they could process only one. I am leaving with just Rs 10,000 now,” he said. The crowd in front of the bank was getting impatient as the closing time neared, but it maintained decorum.
The
cash crunch
has not affected the families alone. The young, unmarried men are also equally hit. Many of them have borrowed cash from friends and relatives or bought essential items on credit.
“I have been trying to withdraw cash from ATM for the past three days but in vain. Last week, I had to borrow some money from a friend. The landlord is pestering me for rent and as usual, he is demanding cash. I will have to visit ATMs for the next five days or wait in a queue outside a bank,” said
Vikram Mehta, a student.