Chaos, frustration, serpentine cues outside ATMs
NEW DELHI : As ATMs opened on Friday, nearly 48 hours post Prime Minister Narendra Modi`s announcement that 500 and 1000 rupees notes will no longer be legal tender, long queues were witnessed outside the ATMs across the nation as people thronged to get new currency notes in lieu of the demonitised currency.
Hope for relief turned in to anxiety and frustration as demand for new notes outstripped the supply and machines went dry. Reports are coming in from across the country on the long queues of people outside various banks’ ATMs waiting since morning.
As per reports, many banks are yet to complete recalibration of their machines for higher denomination notes. As per a PTI report, to ensure customer convenience, banks have been asked to provide all cash withdrawal transactions at their ATMs free of cost till 30 December.
ANI reported long queues outside ATMs all across Delhi and ATMs in Lucknow, ATMs are not working in Noida as well. Most ATMs, including those of ICICI Bank, Canara Bank and Corporation Bank have not become operational in Noida.
There is no cash in machines, and is expected to arrive only after noon in some areas.Punjab National Bank ATM machines were switched off and shutters of Canara Bank ATMs are still down.
There have also been reports of minors scuffles and stampede outside ATMs and rapid action force deployed outside some ATMs. Bank customers have gone online on social media platforms venting frustration at the “poor administration” by banks.The withdrawal limit at ATMs is of 2,000 rupees per day per card for all the customers at bank ATMs.
A number of steps have been taken by bank authorities to facilitate withdrawal of money from ATMs, exchange currency at banks, withdraw money from accounts.After November 19th limit of per day per card transaction will increase up to 4000 rupees.
Long queues, heavy jostling and chaos was witnessed in Delhi outside banks as well as people thronged to banks to exchange notes. Queues extending to roads were seen outside the banks throughout the day.However, the bank employees handled the rush aptly as the people seemed elated by the smooth response.
Elaborate security arrangements were in place at the banks and post offices after they started public transactions. In the banks, people were asked to submit a filled form and a copy of identity proof to exchange the demonetized
Angry crowds gathered outside ATMs on Friday morning as people scrambled for cash three days after the government’s sudden decision to take Rs. 500 and 1000 notes out of circulation to crack down on black or untaxed money. Yesterday, there were long queues at banks.
People rushed to ATMs, which reopen two days after Prime Minister Modi announced that the two biggest currency notes are now just “worthless pieces of paper”. The shock announcement led to a late night scramble to ATMs on Tuesday before they shut for the turnaround.
Banks announced yesterday that the surcharge for using ATMs of different banks has been waived for now.Withdrawals from ATMs will be restricted to Rs. 2,000 per day per card in the first few days, which will be raised to Rs. 4,000 later.
The State Bank of India has said that it could take 10 days for ATM services to settle down to normal. “You have to understand that there are two lakh ATMs (of all banks) in the country but there are only three to four vendors in the country,” the bank’s chairman Arundhati Bhattacharya said.
Many ATMs configured to dispense only Rs. 500 or Rs. 1,000 notes cannot dispense Rs. 100 notes, so they have to be reconfigured too.
On Thursday, as banks reopened, millions rushed to deposit and swap Rs. 500 and Rs. 1,000 notes. Withdrawals from banks are limited to Rs. 10,000 a day and old notes can be deposited till December.
The government has said deposits above Rs. 2.5 lakh will be taxed and could draw a 200 per cent penalty if found disproportionately higher than the account owner’s income.
Banks will stay open this weekend and many banks have announced longer working hours.Old notes will be accepted till midnight on Friday for water and electricity bills, government penalties, and at state-run petrol pumps, government hospitals, metros and at tolls. Highways are toll free for now.
