J.Ramu, a mobile service centre owner from Patel Nagar of Malakpet, spent the whole of Thursday doing rounds of the Andhra Bank, Malakpet branch, but finally he had to return disappointed.
“I came at 6 a.m., and stood in the queue to withdraw money. Even after10.30, the bank remained shut for a long time. I returned empty handed at about 2 p.m. Bank was opened at 3 p.m., but they issued me only Rs.3,000. I have to pay my chit instalment, and kids’ school fee. This will not be enough,” he lamented.
He had come to the bank on Wednesday too, but the bank declared that there would be no cash withdrawals on the day.
He was the only one among the scores of customers-- among them a large number were women-- who had waited patiently at the branch since 6 a.m. on Thursday for withdrawal of cash.
“My daughter and I had come at 10 a.m., and waited up to 2 p.m., only to get Rs.3,000. Though Rs.24,000 was set as the limit for a week, it is not being implemented on ground,” said Asifa Begum, another customer. No bank official had come, but police arrived to control them when tempers started fraying. An impromptu protest was staged with placards, demanding issue of money.
Khurshid Ahmed, a businessman from Malakpet, returned home, and came back in the evening, but there was no cash left by then. “Earlier, the manager said I could withdraw only Rs.10,000, due to the Rs.24,000 limit per week, and asked me to come on Wednesday. On Wednesday, there was no issue of cash, and today, the bank was shut. Nobody was there even to inform us when to come back,” Mr.Ahmed said. Officials from the branch said there was no cash in the bank in new currency, and fearing public backlash, they had to keep it shut. “We had to summon the police for security, as people were agitated, and were protesting with placards. We got cash only at 3 p.m., but it was a mere Rs.5 lakh. Therefore, we had to impose the limit of Rs.3,000,” said N.Venkat Raman, Senior Branch Manager. The branch holds about 45,000-50,000 accounts, and needs about Rs.25 lakh to Rs.30 lakh in cash for daily transactions. However, there is no cash flow from RBI, Mr. Venkat Raman says.
