Nation Current Affairs 05 May 2019 Kurnool: Shortage of ...

Kurnool: Shortage of cash leaves ATMs dry

DECCAN CHRONICLE. | D. SIVA RAMI REDDY
Published May 5, 2019, 3:01 am IST
Updated May 5, 2019, 4:25 am IST
People suffer amid deepening cash crunch.
ATMs in many areas of Kurnool put up boards saying ‘No cash’ and ‘Out of service’. Pilgrims at Srisailam and Mantralayam faced hardships as ATMs had  gone dry. There are around 34 banks and they were extending services to the people by setting 445 branches, besides 485 ATMs. (Representational image)
 ATMs in many areas of Kurnool put up boards saying ‘No cash’ and ‘Out of service’. Pilgrims at Srisailam and Mantralayam faced hardships as ATMs had gone dry. There are around 34 banks and they were extending services to the people by setting 445 branches, besides 485 ATMs. (Representational image)

Kurnool: The Automated Teller Machines (ATM) have gone dry from the past two days, causing inconvenience to debit and credit card holders in Kurnool. People had a hard time going to banks for cash withdrawal as the ATMs became defunct.

ATMs in many areas of Kurnool put up boards saying ‘No cash’ and ‘Out of service’. Pilgrims at Srisailam and Mantralayam faced hardships as ATMs had  gone dry. There are around 34 banks and they were extending services to the people by setting 445 branches, besides 485 ATMs.

 

Manager of Indian Bank said that due to shortage in currency supplied by the Reserve Bank of India, the ATMs did not have full amount. Since customers are reluctant to deposit cash in the bank, the cash flow across the city has stopped.

All-India Bank Employees’ Association district secretary Nagaraj said that people have to bear with the inconvenience for some more time as the RBI has not been supplying cash.

He cited the Model Code of Conduct as one of the reasons and said that the district received cash only in February. Nagaraj said that there was a direct relationship between cash crunch and Pasupu Kumkuma cheques issued by the state government in April.

Earlier, banks used to keep cash in ATM chests, from cash receipts, through normal banking business at the individual bank branches. But cheques presented by women belonging to DWCRA have sucked up all cash, Nagaraj said.

He said that Syndicate Bank is the leading bank in the district and all the cash was routed by them.

Prasad, general manager of Canara Bank said that they have only three ATMs in Kurnool city and the cash is being put in the machines, out of daily business proceeds.

Rural ATMs are worst hit as Andhra Pragathi Grameena Bank had issued ATM cards to all its customers and discouraged cash withdrawals by presenting cheques at the branches.

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