Running out of cash, don’t have the time to stand in a queue in banks, only dependent on the already cash strapped ATMs? There’s more bad new for you. State Bank of India said that due to increased demands and limitation of vendors providing service, it will take another ten days to normalise cash flow. Most people have been complaining about dry ATMs and long queues outside ATMs.
Today, the Hindustan Times reported that how the sudden move of the government discriminates against Tier III cities, rural areas and particulary the North-East. According to it’s report five states in North-East have access to less than 100 working banks.
On the brighter side the government waived off surcharge for using ATMS of banks other than a person’s own bank to ensure customer convenience. Banks have been asked to provide all cash withdrawal transactions at their ATMs free of cost till 30 December.
From Friday onwards, customers are allowed to withdraw up to Rs 2,000 per day from ATMs till November 18. The withdrawal limit will be raised to Rs 4,000 per day per card from November 19, 2016. In the two days when the ATMs were out of service, the banks said they will re-configure their ATMs to dispense Rs 100 and Rs 50 notes.
With inputs from PTI