One month of note ban: Cash crunch continues

One month of note ban: Cash crunch continues
Highlights

Long serpentine queues before banks and ATMs has become a regular feature with customers waiting patiently for their turn, well before the opening times of the banks.

Nalgonda: Cash crunch is still continuing in the district even 30 days after Prime Minister Narendra Modi announced demonetization of Rs 500 and Rs 1,000 currency notes.

Long serpentine queues before banks and ATMs has become a regular feature with customers waiting patiently for their turn, well before the opening times of the banks.

The people are criticising the government for its sudden decision of note ban without a proper vision and without making alternate arrangements. Daily labourers and petty vendors are the worst sufferers due to cash crunch as it became hard to find smaller currency notes.

Some people grunted that they have to take leave to stand in queue to withdraw cash. All sections of people including farmers, employees, and pensioners are spending most of their time in queues either before banks or ATMS to withdraw money wherever possible. Even they get the cash, the banks are giving Rs 4000 to 10,000 only which is not sufficient for their needs.

Majority ATMs are running out of cash. Even if the ATMs has cash, the people are getting Rs 2,000 notes only which has become Herculean task to change the note.

Postal department officials are giving Rs 2,000 note to two pensioners, suggesting them to take Rs 1,000 each. If the pensioners deny to take Rs 2,000 note, the post office officials are handing banned Rs 500 and Rs 1,000 notes and advising them to deposit in bank accounts. Taking the advantage of public woes, mini ATMs’ organisers are taking Rs 2,000 note with Rs 30 as commission.

There were allegations that toll plaza staff is exchanging banned notes for new currency notes on commission basis, thus helping black money holders.

The people said that they welcome the Central government step of demonetisation , but they demanded lifting of cap on withdrawals and issue of new Rs 500 note to prevent the problems of smaller currency.

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