Free Press Journal

Indore: RBI eases withdrawal limit but cash crunch continues

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Indore: Even when the Reserve Bank of India (RBI) has eased the withdrawal limit for those depositing valid currency in banks, people are facing trouble not only in withdrawal but also in depositing their money.

Queues outside many banks can be seen every day and people couldn’t even withdraw Rs 24,000 amount as the bank officials excused for not having enough cash to distribute among all customers.

People have to return disappointed as the banks are not giving them even the amount as per the limit.


“I want to withdraw Rs 24000 from my account but bank officials returned me with Rs 15000 with the excuse that they will have to give money to other customers and they don’t have enough cash,” Mukesh Prajapat, a man outside a government bank said.

He said that the government has been announcing new rules daily but they are unable to implement it on ground level.

Amar Upadhyay, a tea trader, said that he had deposited a lump sum amount in bank a day after demonetisation which he had received from another trader but he couldn’t withdraw it due to insufficient cash in banks and ATMs.

He said that he used to make payments in cash as his clients are not accepting cheques and online payment.

Software engineer Manish Vyas was also returned from bank with less cash than he demanded with the excuse of not having enough cash.

“Government has eased the withdrawal limit for those who deposit the new currency notes. But, how one can deposit new notes when it is not in circulation properly? Only government can understand what they are saying,” Vyas said.

Citizens also raised questions over the weird orders of the government and claimed it the result of unplanned decision.

“They have taken decision without any planning and now people are facing trouble. It is insane that the government has been changing rules for deposit and withdrawal every day,” Noushad Khan, a photo artist said.

What they say

1

“I faced trouble in getting cash from my account as they have fixed the limit in ATMs while they have increased the withdrawal limit from banks with weird conditions.”

Arpit Dubey, Software Engineer

2

“Decision of demonetisation has lost its importance due to regular changing of decisions by the government. They made people stand in queue and now people are struggling for their own money.”

Tarun Vyas, Photo editor

3

“Banks have failed to disburse our money. They should take steps to give relief to people and should make one decision to avoid confusion.”

Yuvraj Mandloi, Professional

4

“Why the government is creating trouble for all by its confusing orders. It should ease the withdrawal limit without any condition.”

Karan Yadav, Student

5

“I too had to face trouble in withdrawing my own money. I had to borrow money from others for immediate cash transactions.”

Ujjawal Jain, Professional

6

“What more troubling is the continuous change in decisions by the government? We support them over the move of demonetisation but not their weird decisions.”

Saurabh Rai, Professional

7

“How people will deposit new currency notes when they are not in circulation. They have ordered for luring the people as it is impractical for now.”

Nishant Singh Bhardwaj, Professional

8

“They failed to provide relief to people. The Government must ask banks before taking any decision as they don’t have enough cash to give people.”

Nilesh Tondon, Professional