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Queue lines at banks grow by the day
State Bank of India made special arrangement for its customers by facilitating the withdrawal of Rs 10, 000 if they deposit lump sum. An official of the bank said that people those who do not have accounts are also coming to the bank for exchange of notes. That is why branches are unable to dispense cash in time.
Rajahmahendravaram: Even on the fourth day after demonetisation move, the queue lines at banks and ATM centres did not reduce in the city. People in large numbers made beelines to exchange old notes and deposit.
State Bank of India made special arrangement for its customers by facilitating the withdrawal of Rs 10, 000 if they deposit lump sum. An official of the bank said that people those who do not have accounts are also coming to the bank for exchange of notes. That is why branches are unable to dispense cash in time.
Prompting a customer to express doubt that some people are coming on behest of others and wondered some middlemen might be involved. On the other hand, the ATMs in the city also failed to dispense the currency to the customers.
The ATMs were emptied within an hour leaving many people disappointed. Officials are filling the ATMs twice in a day due to shortage of staff. According to bank sources, as much as Rs 350 crore worth of new currency had arrived to East Godavari district.
Even those who got new Rs 2,000 notes are now facing hardship for a change. Vegetable vendors, grocery shops, tiffin centres are not accepting bigger notes.
Meanwhile, some middlemen entered into scene and demanding 20 to 30 per cent for spot exchange of cash.Summing it up, one of the Bank officials said the situation would ease after introduction of new Rs 500 notes and felt it would last for one more month.
By:M Srirama Murthy
