Payday chaos: Cash crunch at banks, customers refuse to accept Rs 2,000 notes

Most of the banks have run out of Rs 100 and Rs 500 currency notes, say reports.

New Delhi, Dec 1: According to reports, chaotic scenes were witnessed across the country as banks struggled to attend massive customer rush on the first pay day since demonetisation was announced on Thursday.

Most of the banks have run out of Rs 100 and Rs 500 currency notes, add reports.

Moreover, trouble for banks has doubled as customers are refusing to accept Rs 2,000 denominations notes, which are abundantly available in banks, say sources.

Pensioners and salaried people lined up in front of banks across the country, since early Thursday morning.

Media reports say several banks and ATMs in Delhi have been shut or are lying defunct because of cash shortage and technical issues for the past few days.

In West Bengal and Gujarat chaotic scenes from banks and ATMs were reported.

Senior journalist Rajdeep Sardesai tweeted, "9 am SBI parliament street: where people running out of patience. As one of them tells me: not nice to stand in queue from 5 am in winter!"

Because of Reserve Bank of India's latest rules, following the demonetisation of Rs 500 and Rs 1,000 currency notes, several restrictions have been imposed on the amount of money a person can withdraw from banks and ATMs.

"People can withdraw up to Rs. 24,000 per week from banks and Rs. 2,500 from ATMs per day," states the latest RBI rule.

But most banks have said they cannot disburse more than Rs. 10,000 a person because of the cash crunch.

OneIndia News