HYDERABAD: People across the city had a harrowing time finding cash on the weekend with 95% of the 5,000 ATM machines here running dry. Sources in the banking sector attributed this to the financial year coming to an end and currency supply being low in March.
"I had a medical emergency and very less cash at home. I went to an ATM, but unfortunately I couldn't find cash in the 10 ATMs I went to today," said N Venkatesh, a resident of Panjagutta. Many ATMs in malls have been shut. In one such case, the
Axis Bank ATM
at
Prasads IMAX
was removed just few days ago. Bank officials said the cash crunch is likely to continue in ATMs for another one week as most of the cash will be credited towards salaries and pensions. "It also depends on how much cash we get this week from the RBI. Definitely the scenario is tough, but we hope it will ease in the second week of April," said a top bank official.
While some banks have loaded cash into ATMs attached to branches, residents complain this is just not enough. "Many such ATMs have technical issues. With limited cash, they dry up within hours," said Ch
Vijay Chandra, resident of Abids. "RBI must give clear figures as to how much cash has been circulated," Dr
P Sriramulu
, a former employee with
National Institute of Nutrition
(NIN), said.
A private bank official sought to play down the current crunch saying people were probably facing difficulties because of problems with refilling off-site ATMs outside banking hours. Another official said relaxation of withdrawal limits might be a reason. "The cash crunch is still haunting us. I searched for cash in all ATMs in Dilsukhnagar area and even the bigger banks' ATMs were dry. It is suffocating," said Vanga Sekhar, a private employee.
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