New Delhi, Dec 1: People in large numbers queued up outside banks on Thursday to withdraw cash from their first salary received after the November 8 demonetisation.
Long queues were witnessed outside most banks and functioning ATMs across the capital, residents said.
At Lakshmi Nagar in east Delhi, hundreds queued up outside the only three ATMs that were dispensing cash.
In Dilshad Garden, also in east Delhi, most ATMs were dry. There was a huge rush outside five banks in the locality.
Shiv Kumar, a resident of Noida near Delhi, queued up outside the ICICI Bank in Sector 18 hours before it opened.
“Though the limit on withdrawals is Rs 24,000, banks are giving away only Rs 5,000,” he complained. “I have been standing here for the last three hours.”
At an ATM in Khirki extension in south Delhi, people queued up outside banks much before they opened.
“I have to pay my landlord, maid, newspaper guy and many others. I am not sure I will get cash as this ATM works only for an hour after it is refilled,” Nandini Gupta, a call centre employee waiting outside a Khirki extension ATM, said.
The scene was no different outside the ATMs in Connaught Place in the heart of the city.
Most private companies in India credit salaries to their employees on the last day of a month so chaotic queues started getting longer since Wednesday as people in large numbers scrambled for money after monthly salaries got credited in bank accounts — the first since the high value currency was scrapped, causing an unprecedented cash deficiency across India.
Since the supply of notes from currency chests has failed to keep pace with the demand for cash after 86 per cent of currency in circulation was declared illegal on November 8, the chaos worsened on the payday only as more households needed cash than earlier.
Several banks ran out of cash within hours of opening. Some bank officials complained that they were getting cash much below what they need.
Bankers said they were rationing withdrawals so that more customers were catered to.
People were seen in bigger numbers waiting to withdraw money. Many were annoyed by the rush and the arbitrary withdrawal limits set by banks. And the situation could get worse in the coming days as more number of people will receive salaries.
“I have to pay my maid and grocery bills in cash. I somehow managed to convince my landlord to accept the rent in cheque but I am bound to visit the bank for other payments,” said Vishakha Sharma from west Delhi.
The 27-year-old waited outside a bank for two hours. “It is so humiliating that we have to stand in long queues and beg for our own money.”
An MNC employee, Yogesh Yadav, said he had come to withdraw Rs 24,000 from his bank account but was given only Rs 10,000. “It’s the end of the month and I am supposed to pay bills. How will I manage?” Yadav asked.
(IANS)
