ATMs run dry, banks grappling with cash shortage on payday

Banks across the country are struggling to meet cash demand on payday and expect the rush to continue, at least for the next 10 days

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Payday has turned nightmarish for bankers and customers alike. With many ATMs running dry within minutes of cash being replenished, people are forced to make a beeline outside banks.

Banks across the country are struggling to meet cash demand on payday and expect the rush to continue at least for the next 10 days. Even centralised banks that receive cash from RBI treasury directly are struggling to manage with the demand that us exceeding supply.

Banks

"We are trying our best to disburse cash to customers. Since the demand is high, ATMs are being rendered cashless quickly. We expect rush till the start of second week", branch manager of State Bank of Mysore told OneIndia.

[Also Read: Note Ban: Why pay day is no joy day for working class]

Even banks are unable to disburse change since most cash being distributed from RBI is in Rs 2000 currency notes. The otherwise joyful salary day has become a bane in the wake of demonetisation for those heavily dependent on cash transactions.

OneIndia News.

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