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Long bank weekend to worsens cash crunch
With banks closed for three consecutive days from Saturday and ATMs still not functioning to full capacity, the ongoing cash crisis may escalate further leaving citizens high and dry for want of cash during the weekend.
​New Delhi/Mumbai: With banks closed for three consecutive days from Saturday and ATMs still not functioning to full capacity, the ongoing cash crisis may escalate further leaving citizens high and dry for want of cash during the weekend.
Customers are venting anger as most of the ATMs are running dry. As banks remained closed, long queues were seen outside different cash-loaded ATMs, while some ATMs continued to flash 'ATM Closed' placard.
Citizens who stood by government's decision to demonetise high denomination notes earlier are now running out of patience following reports that huge amount of cash in new currency is being seized by the Income Tax department and police authorities across the country.
"This is really shocking and shameful that a common man is dying in the bank and ATM queue to get Rs 2,000 and Rs 10,000 but the high and mighty are stashing cash of over Rs 60 crores and Rs 80 crores ... where are these notes coming from?
Can this be possible without nexus of bank officials," a former banker from Indian Bank said while letting out his aggression. Referring to the cash seizure of Rs 85 lakh in Rs 2,000 notes from a person at Matunga in central Mumbai by police, he said: "Bankers are turning the bold decision by the Prime Minister into a meaningless exercise."
