Shorter queues as cash in many banks

New Delhi: As Prime Minister Narendra Modi’s deadline to ease the problem triggered by demonetisation is nearing its end on Tuesday night, currency chests of several banks were seen filled with cash on Tuesday, albeit with no queues for withdrawal. While areas like Green Park, Mayur Vihar, Laxmi Nagar witnessed ATM kiosks filled with cash, money in ATM kiosks at IGI Airport (T3), Bhikaji Cama in R.K. Puram, Vasant Vihar and others had the no cash in it.

Delhiites voiced that the government had not only failed to keep the promise but has only goaded the problem by putting a limit of Rs 2, 000 withdrawal from ATMs. For Raghunath Singh Rawat, a professional cook at a leading chain of restaurants in the city in Saket, the unpreparedness of the government and lacklustre attitude of bank officials have failed the government’s move to free the nation from money launderers. “Earlier, we were supporting the government’s move as we had thought it would bring a change in the economy. But, almost two months are going to end. Except seizing unaccounted cash from hoarders or launderers, nothing has come to public’s knowledge. We are still queued in lines with limited money to withdraw, and no cash in banks. Whom should we turn to?” asks Mr Rawat.

Meanwhile, the bankers are still reeling under stress, varying temperaments and cash crunch.

Echoing similar woes, Shaily Jain, who runs a boutique in R.K. Puram, the bank management should not be blamed for the crisis. “It is the haste move of the government which caught the nation off guard and left them at crossroads with no money in hand.”

Meanwhile, the bankers are still reeling under stress, varying temperaments and cash crunch. “What do I say about the cash situation? Everyone knows what has been happening. We (bankers) are at the receiving end. Amendments being made everyday is only making matter worse for us,” said a bank employee.

Marred by the brunt of demonetisation, changing orders and customers resorting to abuses and accusations, it is the bankers who have to bear the ramifications of the government’s sudden move.  

“No one knows what bank employees are going through. Everyday is a new challenge for us. The recent rollback of KYC (know your customer) where the account holders who have accounts with their banks for over an year had to update their credentials which many had not done it. Though, the rule had existed before but frantic people chasing the deadlines failed to take it and which led to chaos across nation,” pointed another employee of a private bank in Bhikaji Cama Place.

The bankers unanimously believe that there is no respite from the current situation of cash crunch in the near future, too. In all the likelihood the cash crisis going to continue in the nation as still they are facing cash crunch and unable to disburse requisite cash to their customers.