Cash crunch continue, people make beeline at banks and ATMs

The first pay day after demonetisation of Rs 500 and Rs 1000 currency notes and restrictions imposed on withdrawal of money from banks and ATMs did not bring cheers to salaried persons as they had a long wait in queues outside banks and ATMs.
As salaries of most of the employees, particularly in government and public sector, are credited to their bank accounts, employees had to get the payments by cheque from banks but those requiring small amounts, preferred to draw money from ATMs.
“Most of the payments are made during the first week of the month but we are not getting enough cash to clear the liabilities,” said a senior officer at ICICI bank ATM here.
However, a Manager of State Bank of India’s main branch here said that there was no shortage of cash but as large number of people want to withdraw money through cheques or ATMs, long queues at these places was natural.
Shopkeepers said that they have deferred the payments and staggered the paying schedule as it was difficult to pay full salaries in cash.
Some of the employees said that they preferred to wait for a day or two as they were aware that rush would be more today being the pay day.
Customers did not face any inconvenience except that they had wait and did not get enough cash. No untoward incident was reported from any part of the state and adequate police was deployed to meet any exigency