Queues to get cash from banks, ATMs get shorter in Noida
Queues at banks and ATM kiosks have shortened over the last week. While some attributed it to fewer cash requirements in the month-end, shorter queues were witnessed on Saturday and Sunday as well, despite most residents working with IT firms and BPOs being credited with their salary for December on Friday.noida Updated: Jan 02, 2017 10:17 IST
Queues at banks and ATM kiosks have shortened over the last week. While some attributed it to fewer cash requirements in the month-end, shorter queues were witnessed on Saturday and Sunday as well, despite most residents working with IT firms and BPOs being credited with their salary for December on Friday.
The Reserve Bank of India (RBI) on Saturday increased the cap on cash withdrawal from ATMs to ₹4,500. Residents also said that the cash flow is normalising slowly.
“On the intervening night of Saturday and Sunday, I needed some cash to buy food from roadside vendors. It was for the first time in a while that I found an ATM in the Sector 18 complex with cash and no queue. I believe things will improve from January 1,” Ritesh Prasad, a Delhi based software engineer who works in Sector 62, said.
Customers also said that ATMs in the city are stocked and do not run out of cash as often as before.
“Earlier, we used to go to Delhi to stand in queues outside ATMs because, in Noida, it used to take an average of three-four hours to get cash compared to the one-two hours in Delhi. The worst part was that there was no guarantee of getting cash even after waiting in lines. However, it has become easier to withdraw cash now,” Gaurav Misra, a Noida based sales employee, said.
At Jaipuria market in Sector 27, ATMs of banks such as IndusInd bank, Punjab National Bank and IDBI were seen dispensing cash to customers.
“These ATMs were not functioning since demonetisation. But in the last one week, they have been dispensing the new ₹500 and ₹2,000 notes along with ₹100 ones. This is a welcome change,” Tarun Yadav of Varun Enclave said.
ATMs in public places such as Brahamputra market, Ganga market, Nithari market, Sector 27 market, Sector 37 market, Sector 55 market and Chaura Raghunathpur village were also dispensing the ₹2,000 notes.
“HDFC Bank and Bank of Baroda ATMs in Ganga market are dispensing the new ₹2,000 and ₹500 notes. Earlier, they only had notes of lower denominations,” Rishabh Saket of Sector 28 said.
Banks in Gautam Budh Nagar have also demanded ₹680 crore from RBI’s Kanpur branch, to sustain the cash flow.
AK Singh, the lead bank manager for Gautam Budh Nagar, sent the request a few days ago. He said that the situation in ATMs will improve from January 2. However, RBI is yet to accept the demand.