Banks Run out of Cash Making Things Worse

It was only withdrawers who were waiting for the cash in long queues so far but now this has become the condition of Bankers. Like the common man is still looking for the new notes to be dispensed at the ATMs and Banks, bank representatives are looking for the new notes to be distributed to their banks by RBI facilities.

[m9ad]

People are already in the soup with the pace of cash dispensed at banks and ATMs, now what would be the condition if there is no cash to dispense at Banks at the first place? Horrible isn’t it? The amount of banned notes that banks received via deposits is 25,000 crores, where the amount that was given to the users was 10000 crores of rupees which are new notes.

Bankers too, seem to be trying their best to get the cash to the counters. Reports say that Bank representatives approached RBI for the cash to be sent to banks at least by Sunday midnight so that it would be helpful for banks to dispense the same to users on Monday. But Cash was not received by banks yet.

Adding to this, most of the ATMS are not ready yet to dispense the new 500 and 2000 notes. Bank representatives say that a few technical settings need to be made in the ATM to dispense the new notes accordingly plus there is a shortage of technicians in the states; Hence, it would take 10 days more for the ATMs to be ready.