CHENNAI: The Express recce of banks in Chennai showed that banks here are dispensing new currency notes through cheques only for a few hours before running out of cash. As per the Centre’s directive, the withdrawal limit per week is Rs 24,000. Some have slashed the withdrawal limit to as low as Rs 5,000.
Serpentine queues continue to be de rigueur 30 days since the Big D was let loose on the nation.
Of the seven banks we randomly visited, two stopped honouring cheques after noon, three banks set their own withdrawal limit of Rs 5,000, Rs 6,000 and Rs 12,000 and only two honoured cheques up to the RBI limit of Rs 24,000.
A common sight at all the banks was the people’s growing impatience about having to stand in long queues. Many of those in the queues had taken time off for this at the risk of losing a day’s earnings. Shashidar, a customer at ICICI Bank’s Ambattur Estate branch, took half a day’s leave to withdraw Rs 24,000 with the only cheque he had left in his book. The bank gave him only Rs 5,000, citing a lack of cash.
Several customers at the SBI branch at the University of Madras, Chepauk, and the ICICI Bank at Ekkatuthangal had to return empty-handed after standing in the queue for hours as the banks ran out of cash post-noon. They were given tokens.
“Come back on Monday. Get the token and stand in the queue. We will allow withdrawal if cash is there,” said a bank employee to an Express reporter.