Demonetisation- Payday woes begin at banks & ATMs

While many organisations chose to pay salaries in advance on demonetised notes during the last week of November, many others are giving out salaries on designated paydays through electronic transfers

After a lull, the buzz is back at banks and ATMs. As payday approaches, people have once again started queuing up outside banks and ATMs.

While many organisations chose to pay salaries in advance on demonetised notes during the last week of November, many others are giving out salaries on designated paydays through electronic transfer or cheques. Either ways, people have started making a beeline at banks and ATMs to deposit or withdraw such amounts.

"We have seen the number of customers slowly rise over the week. Last week came as some respite but people are back to queuing up at banks since salary dates are here. We expect crowding till December 10", said Bharathi, a branch manager with State Bank of Mysore in Bengaluru.

With the government easing cap on withdrawal and RBI still in the process of printing enough notes to equate cash that has been removed from the economy, the next 10 days is going to be a real test of patience for both the customers and the bank officials.

OneIndia News