Banks run out of cash laymen’s agony continues 

DEMONETISATION EFFECT

Hyderabad: With the deadline for exchange of old notes coming to an end, the rush to the banks has reduced, much to the relief of the harassed staff, but the sufferings and agony of the common man for want of required cash continue to persist.

Cash starved people were seen waiting in queues at the banks, though not for exchanging old notes but for depositing them. However, their number at the banks were far less when compared to the serpentine queues which was the order of the day till now.

But the queues were still there at many banks as people desperately tried to withdraw the needed cash for their daily needs and to buy essential commodities. However, many of them were forced to return empty-handed as the banks displayed ‘out of cash’ boards after some time or refused to disburse the required amount except a paltry amount of Rs 2,000.

Many account holders in banks having enough cash deposits were bluntly told that they could draw only Rs 2,000 though the Central government had declared and fixed Rs 24,000 as the limit of withdrawals from bank accounts per week. When asked about this, the bank officials’ blunt answer was “there was not enough cash available with the bank”.

The continuous closure of ATMs all over the State has further increased the hardships of people. While a few ATMs functioned, the cash available was very meagre. People stood for hours before the ATMs expecting reimbursement but for no avail.

Though the government made it amply clear that the old Rs 500 notes could be used for public utility services like payment of water, electricity and telephone bills, those who went to make use of these old notes encountered problems with the staff refusing to accept them.

When a senior journalist went to the customer care centre of BSNL at Jubilee Hills for payment of telephone bill, the staff refused to accept the old Rs 500 note. On being reminded that the Telephone department has declared that the bills could be paid with old Rs 500 notes while sending reminders on telephone, the staff expressed ignorance.

What is more, when the new Rs 2,000 note was given for clearing the bill, the staff said they did not have the change and wanted either correct bill amount be paid or allowed adjustment of the balance amount in the next bill.

Similar experiences witnessed at many places with people narrating their tales of woes not only to get required cash from their bank accounts but also in the payment of bills for utility services with the new big notes.

While the government employees are keeping their fingers crossed as the pay day is round the corner, the employees in private sector are spending sleepless nights not knowing whether they would get paid for toiling the whole month.