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  • Category: Miscellaneous

    RBI says notes are in plenty but bank ATM's are empty.

    After two months of near normalcy, the people are again facing the problems of note shortage in ATM's as many of them went dry and people are really running one ATM to another to draw their money. Those who received the salary has withdrawn fully from their account and thus the ATM's hav run out of cash. And going to bank also proven waste as the rush is long and no guarantee that cash would be sufficient for every one to get through queue. While RBI says the currencies are plenty but ATM's are empty. Whom to blame and what to do.
  • #592808
    There is a huge demand of daily cash as India is a big country and as per RBI the estimated cash requirement daily is to the tune of 15000 crores to 20000 crores.
    Now RBI may be correct in telling that they are transporting this much of cash in the different parts of the country daily but the question is whether all the places are getting the cash as per their requirement or some privileged places are getting more and others are being deprived of it.
    If that is the situation then it is a grave thing and RBI should take a corrective action at an earliest.
    As per my information from friends and relatives in various places it appears that in some places the situation is quite comfortable while some places are still facing the cash crunch.

    Knowledge is power.

  • #592809
    That means RBI is not doing its proper home work as to where the cash must be sent and where not nor probably the cash are going to gullible persons in exchange of black money ?
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #592811
    We, the citizens of India, will have to keep on facing such crisis time and again due to the unplanned and hasty decision taken by our PM and his faithful financial advisers. They managed to bring in some stop gap arrangements in between in a bid to justify the action they had taken but had no solid plans about the future. And the result is that we have started running from ATM to ATM again! I won't be surprised if the avid fans of Shri Modi and team claim that the present crisis is intentional with a view to promote the so called 'cashless economy' theory of the center!
    'Real knowledge is to know the extent of one's ignorance'- Confucius

  • #592825
    We should support the government at any cost. They can make the restriction on our withdrawal, our spending, they call for the cashless economy without giving time to prepare. Prepare with infrastructure which doesn't have any rigid ground. They only considering the city data while forming the policy for all India. The complete failure cashless system. My reference to failure is why ATM are dry if we are heading towards the cashless economy. Then why people need money to transit. Might government thinking that by making less money to ATMs may boost cashless transaction? If this is the plan we should welcome it as we welcome earlier decision.

    Superficially demonisation and cashless economic concept which is adopted in India are without preparation. This is one of the consequence in a line of many.

    Prasanna
    Well done is better than well said

  • #592831
    Why the SC is keeping quiet. Based on the media report and the visuals shown in various television, the court can pull up the RBI for its laxity promise and act.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #592836
    Mr. Mohan: We have not faced or we are not facing any such shortage problem in Delhi. May be it is a local problem in Hyderabad or it is the problem of the particular bank branches in the city.
    Caution: Explosive. Handle with care.

  • #592837
    Partha at #592836, it is not the issue at Hyderabad or some particular bank branches only; there is shortage across the country as on date. I remember you saying the same thing when some unfortunate people got children's notes from the ATMs; and am sure will go on to support the center because you are not liberal as some of us are. Go ahead, but please remember that one should be ready to call a spade a spade if we want to see a better India.
    'Real knowledge is to know the extent of one's ignorance'- Confucius

  • #592841
    Partha many ATM's wont belong to same bank or branches. Most of the ATM's have displayed no cash boards and that is fact.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #592842
    Though less than half of the ATMs are functioning , I don't see any cash problem in Chennai. Remaining ATMs are filled with cash regularly and no queue in front of any ATM / bank. I am not sure whether people moved to cashless or enough cash is supplied.
    Thanks,
    Suresh.

  • #592845
    Liberal or no liberal, just now (before coming to the Office), I have withdrawn Rs. 9000/- from a nearby ATM (near my Office). I have received seventeen Rs. 500/- notes and five Rs. 100/- notes. The notes are still in my purse. Another two or three persons withdrew money along with/just before/after me. They also got the notes. At least one of them has been very liberal, because he regularly criticzes the PM.
    Caution: Explosive. Handle with care.

  • #592848
    And, Partha, do you think me and the author lied? I had to check about four ATMs across the city to withdraw an amount of Rs 900/- And at the end had to be satisfied with a Rs 500/- note. What do I do about the four hundred I was in need at that time? Being radical or fanatical must not lead one to oversee the difficulties faced by common people across the nation.
    'Real knowledge is to know the extent of one's ignorance'- Confucius

  • #592850
    #592848: Hon'ble Sir: Please re-read my previous responses. I stated that we are not facing any problem relating to shortage of cash in Delhi. Nowhere did I mention that any of the Members lied.
    However, this is quite natural. Some liberals are very liberal to put words in others lips (mouth).

    Caution: Explosive. Handle with care.

  • #592853
    In my area, we are not facing any problem with the ATMs. Sufficient cash in available. There is no queue to draw cash. I think the banks are loading sufficient cash into the machine. Let us not blame RBI. Blame the agencies who work for the bank. We had a critical situation, and we have overcome now. All have been set right and things are normal. I find cheers on the faces of bank account holders.
    No life without Sun

  • #592856
    I am not for any argument but Partha, what does your responses at #592836 and #592845 suggest? Didn't you mean to imply that all others can get if you can and thereby say that there is no issue regarding ATM? So, that is what I meant!
    'Real knowledge is to know the extent of one's ignorance'- Confucius

  • #592860
    #592856: My earlier responses only suggest that we (the Delhi-ites) are not facing any problem to withdraw money from ATMs of Delhi. Nothing more, nothing less. Two other Members have also suggeted the same thing in respect of Chennai and Thirunelveli.
    Caution: Explosive. Handle with care.


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