NEW DELHI/KOLKATA: Nine days after demonetisation, there was no let-up in the rush and long queues outside banks and ATMs across the country today while authorities maintained that the cash crunch situation has improved substantially and there was no panic.
As the political slugfest over the demonetisation inside and outside Parliament escalated, banks struggled to manage huge rush of people thronging branches to exchange scrapped Rs 500 and Rs 100 notes and get cash to meet their daily needs.
Despite some ATMs getting calibrated to dispense Rs 500 notes, such vending machines were running out of cash because of huge pressure of withdrawal.
Queues at some branches in the metros were tad shorter for exchange of old currencies as the process of putting indelible ink commenced yesterday. As a result of this, those who have already traded old currency notes are unable to exchange again on the same day due to the ink mark.
Finance Minister Arun Jaitley said the rush at bank branches has come down significantly today and that there is absolutely no panic.
With the Government and RBI struggling to ease cash availability, the small businesses – from vegetable vendors to dhabas and small kirana stores – that use cash as mode of transaction were the worst hit.
A bulk of daily labourers were rendered jobless as construction and other activities came to a standstill in the wake of cement, sand and other supplies not coming in.
Truckers too were reportedly stranded on highways as drivers ran out of valid currency notes, affecting movement of goods in several parts of the country. (AGENCIES)
Follow our WhatsApp channel