Free Press Journal

Indore: Most ATMs remain closed, cash crunch continues


Mhow: Most of the ATMs in the city were closed on Saturday giving tough times to the cash-strapped residents. People who travelled all the way to Mhow following closure of banks and ATMs in Pithampur on Saturday were also troubled due to the shutdown of ATMs.

Crowd was witnessed outside the handful of ATMs dispensing cash. The lines in banks for depositing money have not reduced much so far, however Saturday kept the employees of banks bit relaxed.

Though some banks have been distributing the new 500 rupee notes, the largest bank of the town, State Bank of India did not have these new notes due to which problems arose in distributing money according to demands. Bank sources informed that new notes would most probably be available by Monday.

Various officers of the banks informed that sufficient money is not provided to them due to which they reduce the withdrawal limit for their customers. The cash put in ATM machines gets consumed in around two hours, they said.

Meanwhile, extra security guards have also been deployed in banks and RBI is collecting day-to-day information on deposits from the banks, sources said.