Rush at banks likely to last another week as people queue up to withdraw salary
Banks in national capital may continue to have long queues for a few more days as people get their salaries over the first week of December.delhi Updated: Dec 06, 2016 14:45 IST
Banks in national capital may continue to have long queues for a few more days as people get their salaries over the first week of December.
Secondly, banks are still grappling with currency shortage forcing many branches to resort to cash rationing to meet customers’ demand.
The situation, however, is expected to improve next week and the crowd may be comparatively thinner as government has scaled up the printing of Rs 500 notes, said bankers.
“Many people get their salary in the first week of a month so the crowd will be the same in banks if not more. However, we are expecting some relief as new stock of elusive currency reaches the currency chests and then the banks,” said a senior official of a public –sector bank.
According to reports, four currency printing presses - two owned by RBI at Mysuru and Salboni and two government-owned at Nashik and Devas - have now started working in three shifts.
Some banks in national capital are giving Rs 4,000 per person while those having better cash availability are disbursing between Rs 10,000-14,000 though the limit set by the government is Rs 24,000, bank officials said.
A senior official of a State Bank of India’s branch in Delhi said, “If you want the crowd to come down at banks, you need to recalibrate all the ATMs and ensure that cash reaches there at a faster speed.”
Despite recalibration of over 90 per cent of 2.2 lakh ATMs across the country, ATMs are still running out of cash nearly a month after demonetisation.