Free Press Journal

Demonetisation: Queues shorter, but cash crunch continues



Mumbai: After three weeks since the Centre announced the demonetisation decision and two days after the banks reopened after the weekend holidays, queues outside banks and ATMs in the suburbs were found to be shorter on Monday though citizens complained of not getting the desired amount withdrawn. Many citizens expressed concern that they may have to continue to face the hardships owing to the cash crunch for some more days.

Archita Mishra, a resident of neighbouring Thane, said she felt short-changed by her bank as she could get only Rs 2,500 withdrawn over the counter. “I went to the bank to withdraw Rs 24,000 and I was quite hopeful to get it as there was no rush at all today. But my hope faded away as the bank executive told me that I could get only Rs 2,500 as the bank didn’t have sufficient currency in its coffers,” she said, adding that the banks should put up a notice informing the people of the scenario.

Also Read: Demonitisation: Mismanagement, cash crunch in banks leave customers panting

OP Sharma, a resident of suburban Bhandup, said though the queues had shrunken substantially, the banks needed to adopt a supportive attitude towards the senior citizens. “While a few banks are making separate queues for senior

citizens, State Bank of India is not mending its ways as a result of which, the elderly people are forced to stand in the line under the scorching sun. This should be corrected immediately,” said the retired Central Railway officer. He said the rush at the banks had reduced substantially since the exchange of scrapped Rs 500 and Rs 1,000 currency notes was halted.

Also Read: Demonetisation: Pay 50% tax on deposits, or 85% if caught, says government

Neelam Trivedi, a Ghatkopar-based homemaker, claimed that the banks today sent the people away citing liquidity crunch. “It’s good that the huge rush and serpentine queues are reducing with the passage of days, but this is also a harsh reality that the people are returning empty-handed as the banks are unable to give them sufficient money due to the liquidity problem,” she said.