VELLORE: More than two months after the demonetisation move, bankers say they are witnessing a “significant” improvement in the cash situation.
When compared to the last few weeks, people wait in much-shorter queues outside ATMs.
This, according to bankers, was a step towards normalcy, and they also observed that the circulation of new ₹500 and ₹2,000 had improved.
An official of State Bank of India said they were giving high priority to all ATMs including in rural and semi-urban areas.
“We have been instructed by our officials to ensure that adequate cash is supplied to all ATMs in rural and semi-urban areas. Earlier, there were complaints that these areas were neglected,” he said.
The bank has more than 200 ATMs in Vellore, he said, adding that adequate cash was being provided to the banks’ branches too.
Heading to normalcy
“The rush in branches has come down, and we are going towards normalcy,” he added.
According to a senior bank official in the district, post-demonetisation, the situation has “significantly improved” when compared to last month.
A month ago, there were cash crunches at ATMs.
“The cash supply from Reserve Bank of India has also improved. There is a general tendency among many banks to keep sufficient cash at their branches for their customers. This situation will ease out in the next one week to 10 days,” he said.
He added that banks would start supplying surplus cash to ATMs, as currently, ATMs were being supplied with limited cash. “Soon, adequate cash would be dispensed through ATMs,” he added.
An Indian Bank’s official said the new ₹500 and ₹2,000 notes were in circulation.
“In fact, banks have started to receive the new notes from customers. This shows that the notes are in rotation,” he said.
