Ujjain: Cash strapped ATMs, banks continue to pose problems

FPJ BureauUpdated: Thursday, May 30, 2019, 10:21 AM IST
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Ujjain: The situation in the banks and ATM kiosks by and large remains the same even over a month after demonetisation was started. The banks are still suffering from short supply of currency notes in proportion to their demand and the long queues outside the ATMs have hardly shortened.

Talking to Free Press, district lead bank manager Rajendra Tiwari said though the supply of currency notes had been increased by the Central bank, yet it was not in proportion to the demand. Farmers are very much in need of cash as the harvesting season is on, even as some people and organisations are keeping the cash with them due to fear. So the deposits have reduced in the banks even as payments continue to swell.

Undeclared cash rationing is still continuing in some banks. Shortage of new currency notes of Rs 500 is still a problem while exchanging new note or Rs 2,000. Notes of Rs 100 are also not available in many ATMs. Analysts say it will take some more time for the cash supply to normalise.

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