Contrary to popular expectations, the automated teller machines (ATMs) of almost all the banks either remain closed or continue to display ‘No Cash’ boards which are eventually leading to a decline in currency circulation in the public.
Amid these developments, cashless transactions using debit and credit cards have once again picked up at shopping malls, major stores and government offices like the Transport Department.
The small businesses and the roadside vendors are slowly beginning to feel the impact even as the district administration is making renewed efforts to increase awareness on the digital payments.
Swiping machines
In the weeks after demonetisation came into force, many shops and retail outlets acquired swiping machines of the State Bank of India (SBI) and other banks in which they have current accounts. They also accepted payments to some extent.
But as days passed by, there was a steady decline in the cashless transactions even as there was increased supply of cash at the ATMs.
The new currency notes of ₹2,000 and ₹500 denominations have come into considerable circulation afterwards. However, cash scarcity has come to the fore once again with the ATMs not dispensing cash for several weeks now.
In the implementation of government programmes as well, problems are beginning to show up for making cash payments because of the latest developments.
“With regard to transactions required by farmers, the cashless methods are going to be encouraged this season. This will be taken up with regard to the purchase of fertilizers and seed,” said Joint Collector A. Md. Intiyaz.
Awareness melas
Digital melas are going to be organised wherein all the stakeholders will be involved to create awareness and also bring about coordination among different organisations.
The banks and the banking correspondents, who are helping rural people with their bank accounts, will be taking part in these digital awareness melas to create confidence among the public.
