Banks remain closed, ATM queues get longer in Indore | indore | Hindustan Times
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Banks remain closed, ATM queues get longer in Indore

There was partial relief for the cash-starved public in Indore on Monday, six days after the Union government demonetised the Rs 500 and Rs 1,000 banknotes.

indore Updated: Nov 15, 2016 13:23 IST
Indore

People wanting to withdraw cash for daily use had to face long queues at the ATMs. (Shankar Mourya/HT photo)

There was partial relief for the cash-starved public in Indore on Monday, six days after the Union government demonetised the Rs 500 and Rs 1,000 banknotes.

While all public and private banks remained closed on account of Guru Nanak Jayanti, people wanting to withdraw cash for daily use had to face long queues at the ATMs.

“I stood in a queue for about 45 minutes to withdraw money from an ATM, only to be told that it had run out of cash. Then, a friend told me about another ATM that had been refilled. Somehow I managed to get cash there,” said Sheetal, a student.

The upper limit for withdrawing cash from ATMs remained at Rs 2,000 in the city though the government on Sunday had hiked the limit to Rs 2500. Bank officials said the limit will be raised only from Tuesday.

According to sources, things were expected to improve in a day or two as the banks would introduce new Rs 500 and Rs 2,000 currencies in ATMs.

At present, functional ATMs are dispensing only Rs 100 banknotes while the banks are trying to recalibrate their machine for higher denomination notes. But the process is likely to take a few more days time.

Meanwhile, the government extended the use of old Rs 500 and Rs 1,000 banknotes for paying household utility bills, fuel, taxes and fees as well as purchases from co-operative stores until November 24.