Chaos, queues may get worse in Gurgaon on salary day
Chaos and serpentine queues are expected to prevail as the salaries of those in the organised and unorganised sectors will be credited on December 1gurgaon Updated: Nov 30, 2016 23:48 IST
Chaos and serpentine queues are expected to prevail on Thursday, as the salaries of those in the organised and unorganised sectors will be credited on December 1.
Bank officials reported on Wednesday that they have not been able to get the requisite stock of currency notes from the Reserve Bank of India (RBI).
If there is no change in the scenario, they said, most people will have to return empty-handed.
Cash flow remained significantly low on Wednesday. In many banks and ATMs, the cash supply was exhausted within hours of opening, despite them being stocked in the morning. Several ATMs did not function.
Many ATMs and bank branches put up ‘no cash’ notices or told people to withdraw limited cash, owing to low supply.
Some of them were the ATM and branches of the HDFC bank in Sector 23 , Sector 21, 46 and 29, South City 2 branch of SBI, Punjab & Sind bank at Sector 5, Kotak Mahindra and Axis Bank at sector 14, and ICICI branch at Sector 30.
At the Andhra Bank branch in Sushant Lok Phase 2, notices were put outside requesting cash seekers to not withdraw above Rs10,000. Those who lined up for cash said that if by chance a person failed to get the cash at that time, it would be available only after Thursday evening, or in days after.
“I came to the bank in the morning and stood in line for two hours. But when my turn got near, the officials said that they had run of cash and requested us to return after Thursday,” said Harjeet Munjal, a customer at Andhra Bank, Sushant Lok Phase 2.
They were also not able to assure us about money being credited on Friday or therafter. Procuring cash for daily essentials remains in limbo.” Munjal added.
Many bank officials also stated concerns over the low supply of cash, to Haryana Finance Minister Capt Abhimanyu Singh at a press conference on Wednesday.
Bank officials said the situation was unlikely to improve until Thursday evening, when the RBI headquarters in Chandigarh would issue more currency.
Many regional bank managers said on condition of annonymity that the supply of cash was low because of the Haryana government’s recent order that Group C and D employees could withdraw up to Rs10,000 in cash against their advance salary for November.
“The incentive amount for government employees (of group C and D) is being adjusted in their November salary that will be paid on Thursday (December 1),” said the bank manager of a regional bank. The cumulative sum reserved for the employees has significantly reduced cash supply for banks and hence, shortages are expected in the coming days, ” the manager added.