Demonetization : Even on 24th day, 70 per cent ATMs dry in Ferozepur
People have to cooperate with the government to get best results in future : Subhash Chander, a retired bank employee
Demonetization : Even on 24th day, 70 per cent ATMs dry in Ferozepur
Ferozepur, December 2, 2016: Despite passing of 24 days of announcement of historic decision by the Prime Minister on November 8 of demonetization in the country, about 70 per cent ATMs in the district are dry.
Besides blaming insufficient cash with the banks, one of the bank official pointed out that people are reluctant for parting with fresh cash which has further complicated the matter. The cash which has gone in the market is not coming back in the bank in the accounts of businessmen who have their accounts in the banks.
The first week being a pay day, majority of ATMs in the district have become inoperational and the employers who are transferring the funds directly in the accounts of the employees are finding it difficult to withdrawn in the absence of non availability of cash in the banks.
In the district, around 25,000 employees are working under state government and 17,000 employees of the central government who has to withdraw cash for day today needs.
There are 271 ATMs in the distri8ct of 33 banks at 185 branches and only 40 are operational and almost in all the banks cash is being receipt and put in the ATMs. However, the ATMs of private banks are closed.
Another old timer lady, Sheela expressing her happiness over demonetization said, the government should have made adequate arrangements for cash flow before announcing the bank of high denomination notes.
Fed up with standing in queue for withdrawing their own money, Rajinder Kumar one of the bank customers also put blame on the “ill-preparedness” of the government in dealing with problems arose after demonetization of old notes of Rs 500 and Rs 1,000.
Ultimate suffer are the small traders, who cannot accept the higher denomination note of Rs.2000 but best one are those who have internet banking and debit card facility for making online payments and purchasing from the stores who have ATM swapping machines.
When Subhash Chander a retired bank employee was contacted, he said, the replacement of entire currency is a time consuming job but the position will ease with the availability of Rs.500 note in the market. To encash Rs.2000 note against purchase of small amount has become difficult.
He further said, with the demonetization, the common man has declined the major purchases and confined to only day to day needs. Overnight changes are not possible, the public has to cooperate with the government, to get the best results in the times to come.
