It has been over a month since the launch of the demonetisation exercise, and the cash crunch continues to affect the public. This is mainly because a majority of the ATMs in the city remain shut for the greater part of the day after having run out of currency.
Some ATMs have not been replenished for nearly a week, many lament. The State Bank of Mysore ATM on Jayalakshmi Vilas Road is a case in point. However, when questioned, the authorities here say, “There is no problem.”
There are 733 ATMs in Mysuru district as of today. About 560 of them are in the city alone, and not all are replenished on a daily basis.
However, Lead Bank Manager K.N. Shivalingaiah told The Hindu that though ATMs of some banks may be running out of currency, bank customers can still withdraw cash from branches where they have accounts. “In most cases, customers are able to withdraw the weekly quota. There are a few branches that may have run out of cash,” said the official.
The Reserve Bank of India (RBI) has stipulated a withdrawal limit of Rs. 24,000 per week. “There are no new directives on raising the limit,” Mr. Shivalingaiah added.
Better situation
A senior trade union activist from the bank said a semblance of normalcy was restored in most branches, though the ones in major commercial areas tend to be crowded. Routine activities of lending advances, credit to businessmen, cheque clearance, etc., have stabilized after the initial hiccup.
Banks are encouraging entrepreneurs to install debit card swiping machines. There are a few complaints of failed transactions owing to faulty connections. “This is the major problem impeding the use of debit or credit card machines by businessmen in rural hinterland,” say other sources.
