Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Dry ATMs dispensing more disappointment than cash

Dry ATMs dispensing more disappointment than cash

Share this article Share this article
published Published on Nov 26, 2016   modified Modified on Nov 26, 2016
-The Economic Times

Prime Minister Narendra Modi wants India to go cashless. And it seems that automated teller machines, or ATMs, have been taking the lead ever since the demonetisation drive began. They are absolutely what PM wants the economy to be — cashless.

The result: people's frustration is building up because ATMs are either getting emptied faster than they are refilled, or they are just not working.

ET reports from commercial hubs and shopping districts of Delhi, Mumbai, Bangalore, Kolkata, Chennai and Hyderabad as the struggle to find a cash-rich ATM is becoming the national pastime of an average citizen.

By conservative estimates, four of five ATMs in any area across cities seem to be obsolete. Most of the ones that are functioning are dispensing Rs 2,000 notes, which introduces the users to another problem: how to get them broken into smaller denominations.

The general pattern of currency availability observed is the closer the machine is to its bank branch, the higher the chances of it being refilled regularly. Offsite ATMs and smaller banks seem to be competing in dispensing disappointment.

In a bank in central Kolkata, branch staffers gave a conflicting picture about the cash position, with the bank manager claiming that the branch had adequate reserves to meet customer demand for three days, while junior employees confided that there was scarcely enough to meet even a day's requirement, and that they would be dialing RBI for replenishment.

"What to do, sir? We' re helpless as we are receiving very limited cash supplies from the RBI," said an executive at HDFC Bank in Hyderabad, who did not want to be named. "We are running out of cash within an hour of opening the bank almost every day."

As the weekend approaches, banks have told security guards to turn away customers patiently and to tell them wait till Monday for cash refills.

Please click here to read more.
 

The Economic Times, 26 November, 2016, http://economictimes.indiatimes.com/industry/banking/finance/banking/dry-atms-dispensing-more-disappointment-than-cash/articleshow/55628078.cms?utm_source=twitte


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close