Information around the world under one big umbrella or infobigumbrella.

No significant improvement is still observed in banks and ATMs since 8th November

  • By Shalini Gupta |
  • Sunday, November 27th, 2016 |
  • 0 Comments
 

No significant improvement is still observed in banks and ATMs since 8th November. Image Courtesy – http://deshgujarat.com.

Common people of India could not see significant improvement in terms of inflow of currency at various branches and ATMs at many locations in India. With this aftermath, common people are facing day-to-day problems in terms of daily expenses, vegetable markets, conveyance charges as well as payments.

A senior official of a bank stated that demand for currency was overshadowing currency supply. He also stated that people were withdrawing money from various banks/ATMs, but they were spending it little, so the currency was not getting circulated.

Read: 10 suggestions of the Supreme Court of India

RBI had given a lot of assurance about sufficient supply of currency notes, but practically the situation is diametrically opposite. Immediately after refilling an ATM machine, at least 100-150 people gathered and get standing in queue. As a result of this after 150 people, one may of may not receive currency notes as per his/her requirements.

Even after 18 days of Prime Minister’s order, the situation is not even near the regular cash transactions with ATM and banks. Currency crunch is still the same. People are expecting a way-out very soon.

Read: Black money ‘Sergical Strike’ on Indian Economy

In the meantime, the opposition political parties are trying to consolidate their political issue against Central Government. They are going to step-up their attack on Narendra Modi led Central Government in the coming monsoon session of the parliament on demonetization issue.

The political parties in the opposition bench will definitely gain their political motivation and benefit, but it is not sure when the common people will take a sigh of relief.

 

Shalini Gupta
Shalini Gupta is a teacher at New Delhi with multifarious talents. She has passion for reading, writing, drawing, sketching etc. simultaneously with her teaching job. presently she is writing for Bigumbrella.

Leave a Reply

Your email address will not be published. Required fields are marked *

*