No cash in ATMs; villagers left in deep agony
Automated Teller Machines or ATM in common parlance are existing in name only in Bhadradri Kothagudem district. “No Cash” boards hanging from ATM room...
Kothagudem: Automated Teller Machines or ATM in common parlance are existing in name only in Bhadradri Kothagudem district. “No Cash” boards hanging from ATM room door handles have been greeting the customers for the last several days.
Most of the people in the district, particularly from the rural areas, depend on ATMs which dispense cash. The rural folk have lacked knowledge of either debit cards or credit cards, leave alone Paytm. The people go to ATMs whenever they need money to buy essential commodities to withdraw money. As the ATMs display “No Cash” boards, the customers are cursing the banks under their breath.
People in coal mining areas have somehow become used to making use of debit cards and also to some extent credit cards, apart from Patym. So are the people in industrial areas of the districts. But the rural people are still lagging behind and are unable to adopt the cashless transactions as way of life.
There are 112 ATM centres belonging to various banks in the district. The SBI and APGBC have 38 ATM centres respectively, while Andhra Banks 14, DCCB 11 and other banks 11. Not even one ATM is now dispensing cash.
There are 119 banks branches, both public sector and private banks, in the district. These banks require Rs 40 crore a week to ensure smooth transaction and satisfy all customers. But the banks are able to draw just Rs 8 crore from the cash chest a week. That is why the banks cannot address the cash shortage in the district, according to official sources.
It is a marriage season now. J Madhu, whose daughter’s marriage is scheduled to take place in a few days, is a worried man. “We have money in the bank. But the bankers refused to dispense more than Rs 40,000 cash, said a tycoon I Rama Rao.
A devotee, N Rama Rao, had a bitter experience with the hotels in the town refused to accept either the debit and credit cards.