Fund-starved banks dash people’s hopes

Mahabubnagar: With December 1st being pay day for government employees, pensioners and some of the people working in private organizations as well as the unorganized sector, most of the banks in Mahabubnagar faced severe cash crunch and failed miserably to meet the heavy demand for currency from customers.

“We are facing severe currency crunch, though the government had issued orders to give Rs. 10,000 in cash. We are not able to dispense the same due to lack of supply of notes from RBI. As per the new directive from RBI, we are giving only Rs. 2,000 per day to each account holder,” said a senior manager at Andhra Bank’s main branch in Mahabubnagar.

Right from 8 ‘O’ clock in the morning, all the major branches of Andhra Bank, State Bank and other banks in the district headquarters witnessed long queues, where more than 150-200 people were seen standing till the time banks opened their gates at 10 AM. Except for one or two bank-attached ATMs, more than 95 per cent ATMs in the districts were seen shut with boards declaring ‘no cash’.

Manemma, a 54-year-old woman standing in a long queue, expressed her concern that she has been coming every day in the morning and withdrawing Rs. 2000 daily, as she has settled the marriage of her daughter next week. “I have settled the marriage of my daughter and we need money for printing cards, and other arrangements. As the banks are giving only Rs. 2,000 per day per account holder, I am coming daily for withdrawing my amount,” said Manemma.

Although Andhra Bank authorities opened separate counters for senior citizens and normal public, the cash supply position in banks did not permit them to meet the requirements of all the customers. Due to limited cash, smaller branches had to close their counters early. “Due to short supply of cash, we have closed the counters early. In order to ration the supply to each and every account holder, we have limited the payments to Rs. 2,000 per person per day,” said another bank manager in Jadcherla.

Slamming the government’s unplanned demonetization, Afzal, another customer, says the poor are suffering because of the government’s apathy. “They are saying to use mobile phones and online banking systems to transfer money and other sales and buying. Without arranging anything or without at least creating awareness about the digital transactions, it is not good on the part of the government to take decisions haphazardly. This is nothing but taking the public for a ride,” slammed Afzal, a hamali.

The most impacted are pensioners. Because of the heavy rush at the banks, they are not able to stand in the queue and have to rely on others for filling the withdrawal vouchers. R.C. Reddy, a retired teacher from Hanwada, said, “There is no coordination among the bankers and the government authorities.

While the government is announcing that cash is supplied in all ATMS and banks are directed to give Rs. 10,000 in cash, the situation on the ground does not reflect the government’s announcement. I have come from Hanwada to draw my pension. But the bank authorities are giving only Rs. 2,000,” the retired teacher shared with palpable anger.