Demonetisation- ATMs still run dry, banks get respite

Weeks after Rs 500 and Rs 1,000 value notes were demonetised, fewer banks are witnessing crowding but with ATMs not dispensing cash people have no option but to queue up outside a bank.

Despite the government claiming to have recalibrated over 82,000 ATMs across the country many ATMs are running dry. Even in metro cities hundreds of ATMs continue to display 'Out of service', 'No cash' or 'Temporarily out of order' boards.

"Most ATMs that are replenished by banks aren't facing this issue but ATMs that are being refilled by agencies are often seen out of cash. The cash supply from RBI has been consistent. There is no shortage. ATMs have also started dispensing Rs 500 notes now. We expect things to go back to normal soon", said Venugopal, Vice President of Banker's association in Bengaluru.

Weeks after Rs 500 and Rs 1,000 value notes were demonetised, fewer banks are witnessing crowding but with ATMs not dispensing cash people have no option but to queue up outside a bank. "State run banks like State Bank of India or State Bank of Mysore receive their cash directly from RBI treasuries but other banks have to depend of centralised banks for resources. This is probably the reason most private bank ATMs are running dry", Venugopal added.

OneIndia News