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Demonetisation Day 45 : Cashless economy becomes ironical with 'cashless-ATMs' & long queues before banks
TIWN Dec 23, 2016
Demonetisation Day 45 : Cashless economy becomes ironical with 'cashless-ATMs' & long queues before banks
PHOTO : Cashless ATMs creating hurdles for common people. TIWN Pic Dec 23

AGARTALA, Dec 23 (TIWN): People in the national capital and adjoining Noida and Gurugram satellite towns continued to suffer the pangs of cashlessness on Thursday -- the 44th day of demonetisation -- as most of the ATMS in the region remained dry. The cash crunch has also affected people who have migrated to the region for work or studies and are living in rented accommodations. "I had to make payments to many people, including my landlord. I had to beg him to accept the payment in cheque. But for many other others things I am in debt. I am buying grocery on credit," said a bank customer. Although a bnaker-level meet was successfully held in this regard but this remained without any affect.

As a part of Indian Prime Minister Narendra Modi’s vision for a cashless society to prevent corruption and to keep everything database, a state level bankers meet was held at Pragna Bhawan & certain points were discussed : 1)Demonetization ; which was done more than before 1  months and successfully many positive outcomes of demonetization has been observed, also truly some hurdles to the common people, 2. Small Notes ; which has come in the market already including 500 rupees notes but how to circulate them properly and how to diminish the cash-crisis in the market across the state it was discussed, 3. Cashless society : Cashless condition would not only benefit Agartala, Udaipur, Bishargah---but in each and every corners of the state awareness should be brought/ Along with that the overall scenario was also reviewed.

Moreover , the ATM Van service which has been launched in Tripura, which is likely to decrease the rush of people before ATMs and banks has so far failed to solve the problems.

On the other hand a single ATM is providing 500 rupees notes, resulting much cash-shortage while exchanging notes. However, people finding no other option chose to stand in bank lines, whereas there are huge crowd all the time occupy the counters.

The situation is worse in SBI and Gramin Banks, where maximum number of people are found standing.
Somehow better conditions were witnessed outside the Bandhan Bank, ICICI Bank and Axis Bank, HDFCs.

The main problem is occurring due to lack of 500 rupees notes in ATMs. If the ATMs begins to circulate Rs. 500 notes, then the problem of small note crisis would be diminished within 3/ 4 days. But here whereas 80 % ATMs remains in non-workable condition, the others are found depositing only 200 rupees notes.

The provision of Rs 24,000 for withdrawal, however has turned out to be far from ideal, since most banks were barely able to ration Rs 4,000-5,000 to their customers.
A crowded situation was witnessed outside the banks on Tuesday morning. The problem is facing by those families, where everyone is working outside and doing 10-5 jobs.

It’s worthy to mention here that the disaffection with the demonetisation move continued, and seemed even to gain strength over days manifestly, with people waiting in queues denouncing Prime Minister Narendra Modi in the strongest terms. But the allegation can not be dumped fully on the central govt as 500 rupees note are available in banks, but what to do if they do not circulate?

 

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