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Cash supply has improved, says AB DGM
Kakinada: To tide over cash crunch, ATMs in the district are being replenished with new Rs 500 notes, said Andhra Bank DGM, P Bhaskara Rao. Earlier with only Rs 2,000 notes in circulation, problems cropped up in meeting the customers\' needs though we were supplying Rs 100, 50, and Rs 20 notes
Kakinada: To tide over cash crunch, ATMs in the district are being replenished with new Rs 500 notes, said Andhra Bank DGM, P Bhaskara Rao. Earlier with only Rs 2,000 notes in circulation, problems cropped up in meeting the customers' needs though we were supplying Rs 100, 50, and Rs 20 notes, he said.
The DGM, on Friday, said that the bank has a strong 128-branch network across East Godavari, with 100 ATMs catering to the needs of customers.
At times, the remittances from customers before demonetization used to be 60 to 70 percent sometimes touching more than 100 percent in comparison to cash disbursement, said Bhaskar Rao.
Now the situation has changed dramatically and we are getting less than 20 percent remittances when compared to cash disbursement, the DGM noted.
Due to non-availability of cash at ATMS, customers were experiencing great panic. However, the situation has eased out now with enhanced availability of cash at ATMs of other banks, added the DGM.
