Cashless ATMs: Situation worse in rural areas

AHMEDABAD: Weekends is most often about eating out and searching for maximum households. However, as a number of ATMs ran out of cash on Sunday, other folks ended up working from one ATM to any other, to generate profits withdrawals and their expenses. The money scarcity faced through banks used to be additionally acknowledged through deputy chief minister Nitin Patel final week, while he used to be in Surat.
Bankers point out that the placement is worse in rural centres while urban centres are getting a cheap money supply, albeit, it is a lot less than the actual requirement. “Banks in urban centres reminiscent of Ahmedabad, Vadodara, Surat and Rajkot are getting merely 20% of the particular money requirement. This is certain to create a scarcity. When we’re not getting foreign money from the Reserve Bank of India, how can we put money in ATMs or make clearances. Farmers are adversely hit as they’re not getting paid within the harvest season,” mentioned Janak Rawal, secretary, Maha Gujarat Bank Employees Association (MGBEA).

“If there's no improvement within the situation, we will be able to make a representation to the RBI,” he added.

“I and my wife had stepped out to run a couple of errands and get my mother’s medications on Sunday evening. We moved through six ATMs fetching for money in several banks on Anandnagar Road and Bodakdev, alternatively, they all had run out of cash,” mentioned Shamik Das, a resident of Satellite.

Commenting at the situation, J N Singh, chief secretary, mentioned, “We understand the urgency faced through the banks and are in constant touch with the RBI as well as the central government to resolve the issue.”

Singh additionally mentioned that cash were dispatched through the RBI upon particular request to positive areas the place there used to be acute scarcity of cash. “Last week, we had despatched money through RBI to centres in North Gujarat and on Tuesday, we will be able to be dispatching money to Surat, the place we’ve learnt of cash scarcity getting critical,” Singh added.

Urban cooperative banks too are adversely hit with the foreign money scarcity. “We cannot do a lot except RBI starts dispatching foreign money to the foreign money chest from the place we get money. We hope the placement improves soon,” mentioned Jyotindra Mehta, chairman, Federation of Urban Cooperative Banks.

Cashless ATMs: Situation worse in rural areas Cashless ATMs: Situation worse in rural areas Reviewed by kailash soni on April 17, 2018 Rating: 5
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