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ATMs go dry in Nellore
Even after 10 months of demonetisation, city residents are still facing cash crunch as majority ATMs are displaying no cash boards. ATMs are going dry within short time as the cash loaded in them is insufficient to meet currency needs of denizens. Many ATMs in various parts of the city did not dispense cash on Wednesday, Thursday and Friday.
Nellore: Even after 10 months of demonetisation, city residents are still facing cash crunch as majority ATMs are displaying no cash boards. ATMs are going dry within short time as the cash loaded in them is insufficient to meet currency needs of denizens. Many ATMs in various parts of the city did not dispense cash on Wednesday, Thursday and Friday.
The customers are forced to wander from ATM to another for hard cash. Residents are wondering why the situation has not improved even after demonetisation in November last. One of the reasons attributed for ATMs going dry was residents still prefer to do business transactions through cash.
Highlights:
- No cash boards displayed at several ATMs in the city
- Customers allege banks not showing interest to load cash in ATMs
- Bankers say no adequate cash flow from the RBI even 10 months after demonetisation
The wholesale shops located in Stonehousepet, Nawabpet and other parts of the city are still not having PoS machines as the traders deny utilising them and there has been no action from the officials of the Commercial Taxes department.
Interestingly, some ATMs are displaying boards imposing restriction on cash withdrawal and allowing only up to Rs 15,000 due to shortage of Rs 2,000 notes. The banks are relying on Rs 500 and Rs 100 notes and it has been a major difficulty for them to manage the ATMs. “Nationalised and private banks are also not maintaining adequate cash in the ATMs. Now, we have to rely on Grameena Bank and others for cash. In Vedayapalem, very few ATMs are dispensing cash for the last three days.
This is very bad on the part of the banking system since debit or credit cards are not sufficient for all purchases as we cannot go to supermarket for each and everything,” said TP Sastry, who resides in Podalakur Road area.
Even, SBI ATMs are also failing to dispense cash at many places. Some private banks like HDFC are also not showing interest to load cash and simply arranging certain amount of cash daily and they are keeping mum after the amount was withdrawn. So, customers have to travel 4 to 5 km in search of cash.
A senior manager of a private bank said still cash flow from the RBI has not been streamlined and hence they were facing trouble for hard cash. He admitted that they were causing troubles to the customers due to cash shortage. Lead District Manager was not available to comment on the issue.
By P V Prasad
