VIJAYAWADA: Long queues of customers continued at several ATMs on Wednesday also and most of the customers returned empty-handed. 'No Cash' signs continued to be displayed at several ATMs. Around 1000 of the 7000 ATMs in the State ran dry on Tuesday.
“Today, it felt like the days after demonetization of higher denomination currency. There was no cash in the two ATMs I visited,” K Swaraj, an employee of a private firm in Vijayawada said. He wanted to know what punishment should be given the banks that collect fines from customers for not maintaining sufficient balance in their accounts.
The similar sentiment was more or less echoed in different cities and towns across the State on Wednesday, as several people returned from the ATMs disappointed.
Meanwhile, bankers expressed the hope that situation would improve in a day or two. Speaking to TNIE, SLBC convenor KSD Siva Vara Prasad said, “Today we held a video-conference with the department of finance officials in New Delhi. By tomorrow, 90 percent of the ATMs will be filled with cash. As far as the cash reserves in banks are concerned, they are coming and going, nothing is constant. Even RBI assured us of providing some amount and we are expecting it to reach us in next 2-3 days. Our only request to the people is not to panic.”
The bankers are appealing to public to redeposit their money with the banks, so there will be money circulation and the current crisis can be overcome. There has been an increasing trend of customers withdrawing cash. “Cash withdrawals have increased over the last few weeks. As the financial year has just ended, payments towards various purposes might be the reason for the cash crunch.”
When contacted by TNIE, Chief Secretary Dinesh Kumar said that he apprised the Central Government and RBI of the prevailing cash crunch in Andhra Pradesh last month itself. “I wrote a letter explaining the situation and how it is affecting payment of wages to job card holders under MGNREGA and social welfare pensioners,” he said.