Even as the queues in front of banks continue, the latter are facing serious issues with cash flow. And it’s not just banks, finance agencies and pawn shops have been suffering.
Day-to-day operations have taken a backseat at banks. “Due to the shortage of both the new currency and Rs. 100 notes, we are forced to suspend cash exchange by noon daily. We have to wait for funds,” said Natesh, manager of Dhanalakshmi Bank, T. Nagar.
Sudha Krishnamurthy, Branch Head of Federal bank in T. Nagar, said: “Most of the funds are exhausted. There is only enough to refill the ATMs and we kept aside a minimal portion for account holder withdrawals.”
A staff at the bank said: “We have had over 850 walk-ins over three days. Usually, banks are allocated cash limits based on their stock limit with the RBI. We have intimated the currency chest, but we will receive the necessary funds only on Thursday.”
