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Long wait at bank ATMs continues
Even after 10 days of demonetisation of high value notes, people were still seen waiting in frustration at ATMs due to cash scarcity at banks and ATMs.
New Delhi: Bank branches saw orderly queues following restrictions imposed by the government, but chaos at ATMs still continues on Saturday.
Even after 10 days of demonetisation of high value notes, people were still seen waiting in frustration at ATMs due to cash scarcity at banks and ATMs.
Besides, hapless people are running from pillar to post for withdrawing Rs 2.5 lakh from their own accounts for marriage, a relaxation announced by the government three days ago. But branches are unable to dispense this amount in absence of operational guidelines from the RBI.
People are visiting their branches with gazette notification that talks of relaxation being provided to farmers and for marriage, but to no avail.
"Withdrawal for marriage purpose can be availed only after RBI's notification, which will have clear direction about the various formalities needed to be furnished by the customers for withdrawal," said a senior Corporation Bank official.
Earlier this week, the government had said it has been decided to permit families celebrating weddings to draw up to Rs 2.5 lakh in cash from their own bank accounts while encouraging families to incur wedding expenses through cheques or digital means.
Following the announcement, families where marriage ceremonies are due started making a beeline for the branches, only to return empty-handed as bank officials turned them away saying there is no direction from their head office or RBI in this regard.
This being the marriage season, people thronged the bank branches with all possible evidence for marriage and their identity proof to get the much-needed cash.
There were reports of heated exchange from various parts of the country while lining up for the cash.
All banks on Saturday served only their respective customers and did not exchange old Rs 500 and Rs 1,000 notes from customers of other banks.
However, this restriction was not applicable on senior citizens as they are allowed to visit any bank branches to exchange old, defunct currency notes.
The exchange limit has already been less than halved to Rs 2,000 to ease some pressure on cash demand.
Finance Minister Arun Jaitley said the rush at bank branches has come down significantly and that there is absolutely no panic.
