Visakhapatnam

Long queues continue at banks

People queue up at ICICI Bank at Seetammadhara in Visakhapatnam on Friday.—Photo: C.V. Subrahmanyam

People queue up at ICICI Bank at Seetammadhara in Visakhapatnam on Friday.—Photo: C.V. Subrahmanyam  

Most ATMs of both public and private sector banks fail to function till noon

With the promised functioning of ATMs not fully materialising on Friday long queues at banks continued for exchange and deposit of high denomination notes and withdrawal.

ATMs of many of the public sector banks, including SBI, with major presence did not function on Friday. As a result long queues at bank branches continued.

At the Dondaparti branch of SBI K. Suryanarayana, senior citizen, was seen sitting waiting for his turn in the long queue.

At the bank’s Gopalapatnam branch small trader S. Chinna Rao stood in the queue at 6 a.m. to exchange Rs. 4,000 and it took him four hours. A frail, retired Railway employee Y.V.R. Murthy had to stand in queue to withdraw Rs.4000 as his son went on his job.

Wary of possible problems at ATMs owing to heavy rush, Pradeep Kumar, of Chandranagar, stood in the queue for exchange and depositing. With ATMs of SBI and several other banks not functioning people had no choice.

At some bank branches only deposits were accepted in the morning. “We have disbursed Rs.40 lakh through nine branches on Thursday and ran out of cash. We are expecting cash from the cash chest and as soon as we get it exchange, withdrawal and loading in ATMs will be taken up,” said an assistant branch manager of KVB.

The problem with public sector banks appeared to be dispensing of cash from chests to the outsources agencies and back-end software change to dispense lower denomination notes. Also the new Rs.500 notes have not been received from the Reserve Bank.

ATMs of ICICI and HDFC started functioning in the morning. “People queued up right from 9 a.m. but the HDFC ATM began working after 11 a.m.,” said an employee. Axis Bank ATMs were available by afternoon.

The ICICI Dwarakanagar branch witnessed big rush. “The turn out is at least five times more than the ordinary business days,” said an employee guiding customers.

At the Andhra Bank Seetammadhara Branch transactions continued till evening with special arrangements made for orderly disbursal.

In the Gopalapatnam and NAD area only Union Bank, Punjab National Bank and Lakshmi Vilas Bank ATMs dispensed cash. Many of the Andhra Bank ATMs, including at Madhavadhara, functioned.

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Printable version | Jul 15, 2020 10:20:20 PM | https://www.thehindu.com/news/cities/Visakhapatnam/Long-queues-continue-at-banks/article16443561.ece

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