Banks still struggle to manage huge rush of people


Banks still struggle to manage huge rush of individuals thronging branches across the nation to exchange invalid currency notes and get money to meet their every day needs.

In spite of a few ATMs getting calibrated to dispense Rs. 500 notes, such vending machines are running out of cash because of huge pressure of withdrawal.

Lines at some branches in the metro cities were seen somewhat shorter for trade of old currencies as the process of putting permanent ink has begun from yesterday. As a consequence of this, the individuals who have officially traded old currency notes can't exchange again around the same time because of the ink check.

In the meantime, the ATM recalibration practice is likewise going on so that higher denomination currency notes are dispensed as quickly as possible.

With the government and RBI struggling to ease money accessibility, the private ventures – from vegetable merchants to dhabas and little kirana stores – that utilization money as method of exchange were the most exceedingly terrible hit.

A main part of everyday workers were rendered jobless as development and different exercises ground to a halt in the wake of concrete, sand and different supplies not coming in.

Truckers too were allegedly stranded on roadways as drivers came up short on legitimate money notes, influencing development of products in a few sections of the nation.

In the interim, the administration today declared many measures, including simplicity of limitation for money withdrawal by agriculturists and wedding family.

In the meantime, it has brought down as far as possible for outdated notes to Rs. 2,000 from the current top of Rs. 4,500, compelling tomorrow.

The over-the-counter trade of Rs. 500/1,000 consequently of new money will be accessible once per individual till December 30.