RBI Increases Withdrawal Limit But ATMs Run Out Of Cash

By : 03-Jan-2017
RBI Increases Withdrawal Limit But ATMs Run Out

The demonetisation drive of the government has ended and raised the daily cash withdrawal limit from Rs. 2500 to Rs. 4500. However, there has been no change observed in the situation at ATMs in Delhi, as most of the ATMs are either out of cash or they are not calibrated for the new withdrawal limit.

With such a condition of the ATMs, many people are rushing to the banks in the city to perform their withdrawals and deposits.

One of the customers, Sadaf Bano, who visited a bank for depositing the cash, said that, “I do not know how net banking works and I have been waiting for the rush to dissipate for the past few weeks. But even with the 50-day period ending, it is still difficult to make deposits.”

Manager Irshad Ahmad Khan, of one of the banks in Seelampur in the city said that, “Earlier, we used to get about 600 people a day. Now we get as many as 1,000. This is the only branch in the area and the rush has not died down since the announcement.”

He also added that, “We have about 70,000 account holders and there is not enough cash available for everyone.”

On a positive note, T R Kadam, chief manager of the SBI branch in Lajpat Nagar Central Market, said, “Cash will hopefully be replenished by evening. The government has not even recalibrated our ATMs from Rs 2,500 to Rs 4,500. But banks are a little relaxed because we have money. Right now, we are in a position to allow everyone to withdraw the maximum limit of Rs 24,000 or Rs 50,000 as per their requirement.”

Brij Nath, a shopkeeper in Gandhi Nagar in the city, said that, “There are about seven machines in this area. They were replenished with cash maybe twice in the last two months, but now the entire market depends on this one branch which runs out of cash in a couple of hours.”

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