ATMs in country running dry amid massive cash crunch
ATMs in country running dry amid massive cash crunch: New Delhi/Varanasi (Uttar Pradesh)/Telangana, Apr 17 (ANI): Massive cash crunch across country has left ATMs dry. There are hardly any ATMs, which have rupees two thousand or even five hundred notes, which are causing hardship for the common man. People in need of immediate cash is facing problem. People in Bhopal are facing a cash crunch too as ATMs are not dispensing cash. The situation has been the same from past 15 days. People in Uttar Pradesh's Varanasi are also struggling amid the cash crisis. One of the locals said, 'We do not know what or where the problem is but the common man is facing difficulty as the ATM Kiosks are not dispensing cash. We have visited 5-6 ATMs since morning. We need to pay for the admission of children and purchase groceries and vegetables.' A local in Hyderabad said, 'We have been unable to withdraw cash from ATMs as the ATM Kiosk, in several parts of the city, have run out of cash. We have visited several ATMs since yesterday but it is the situation...........
Professionalize currency and ATMs management
This refers to the report “RBI ramps up printing, rushes cash to states” (April 18). From the problems common man faced during the initial days of demonetization (November 2016) to the run-like situation the ATMs across the country faced last weekend are attributable to the inadequate planning in printing currency and the mismanagement of ATMs. The institution responsible for currency management, namely RBI, should at least refrain from wishing away the inconveniences caused to the public as ‘arising from logistics'.
The positives of demonetization which are becoming evident as time passes are getting washed out because of the unprofessional handling of production and distribution of currency. From the design of currency notes (size and thickness of paper) to their coming out from ATMs, there needs to be harmonious alignment in planning and execution. What seems to have gone wrong is the sporadic decisions taken at various levels in regard to value and designs of currency notes and inefficient recalibration of available ATMs. Added to this was the issues arising from having no supervisory or regulatory control over service providers who almost ‘managed’ ATMs.
Rationalisation of the presence of ATMs, nearest bank branch being made responsible for supervision of each ATM and advance planning about the design and value of currency notes making them ATM-friendly will go a long way in avoiding crises of the type we are now going through.
M G Warrier, Thiruvananthapuram