No respite from misery for common man

Despite it being Monday, there was not much of activity at banks across the city. With very few ATMs dispensing cash, people were seen standing in serpentine queues to withdraw of Rs 2,500 per person.

By   |  Published: 28th Nov 2016  8:55 pm
No respite to common man after 18 days of demonetisation move

Hyderabad: It has been 20 days since the high currency notes were demonetised by the central government and the travails of the common man in the city continue due to cash crunch.

Despite it being Monday, there was not much of activity at banks across the city. With very few ATMs dispensing cash, people were seen standing in serpentine queues to withdraw of Rs 2,500 per person.

Bank authorities are slapping an informal limit on cash withdrawal even from respective branches. “After standing in line for about 2.5 hours, I could withdraw only Rs 2500,” fumed Manjunath, a resident at S R Nagar.

The queues at banks almost disappeared after the central government suspended exchange of demonetised notes. The provision for exchange of demonetised notes is available only at RBI, regional office in the city.

“Even the exchange of cash at RBI is limited to just Rs 2000. It cannot get any worse than this,” said Narayana Rao, a small time businessman.

But with opposition parties led by Congress party staging a demonstration at the RBI, authorities were forced to suspend the service of exchange of demonetised notes till lunch on Monday.

Many traders and households are getting worried a lot with the payday being just two days away.

Many wanted banks to take up measures to ensure hassle-free withdrawal during the first week. “We need cash to meet our daily needs and banks should set up more counters or ensure ATMs are dispensing cash,” said Muralidhar Rao, a businessman.