Hyderabad: Small deposits let ATM go dry

Hyderabad: Deposit of a large number of smaller notes ranging from Rs10 to Rs 50 with banks is leading to cash shortage at ATMs in the city. The situation becomes more acute during weekends and holidays.

Although the RBI had earlier directed all the banks for the speedy recalibration process after the demonetisation, the hardware in 20 per cent of ATMs in the city is yet to be upgraded to dispense Rs 2,000 and Rs 500 notes.

Nearly, 1,000 ATMs in city out of 1,500 have no money since Saturday evening and no bank refilled ATMs with cash.

According to M.R. Prabhu, a resident of D.D. Colony, he had to travel from Shivam Road to Boduppal to withdraw Rs 1,500 on Saturday night and found most of the ATMs dried up. “A few ATMs on my way had cash but had only Rs 2,000 notes. I withdrew money at an ATM located after Uppal,” he said.

M.S. Kumar, the secretary of Bank Employees Federation, said banks have sufficient cash and are supplying adequately to ATM refillers.

“Small branches are not having any cash shortage, but a few key branches in the city centre, which witness more transactions are getting smaller notes from customers, during the weekend. Most of the business people are depositing notes of Rs 10, Rs 20 and Rs 50 denominations, which are no use for ATMs,” he said.

He said ATM refilling agencies have systems in place for tracking for cash status in ATMs and they should fill the cash soon after the ATMs go dry.