Demonetisation: Chaos grows, queues get longer at banks, ATMs on weekend

People including elderly and women in large numbers were queueing up to get the valid currency notes needed to meet their daily expenses.

By: PTI | New Delhi | Updated: November 17, 2016 2:44 pm
Srinagar: A notice is pasted on the main gate of State Bank of India after Central goverment order of demonetisation of 500 and 1,000 rupee Indian currency in Srinagar on Wednesday. PTI Photo by S Irfan(PTI11_9_2016_000300a) A notice is pasted on the main gate of State Bank of India after Central goverment order of demonetisation of 500 and 1,000 rupee Indian currency in Srinagar on Wednesday. PTI Photo

Banks and ATMs on weekend witnessed more chaos and even longer queues as cash-starved people jostled to exchange and withdraw money, even as cash dispensing machines went dry soon after they were stocked due to heavy rush. Long serpentine queues were witnessed at bank branches for the third straight day across the country. Similarly, people were seen impatiently waiting outside ATMs to withdraw money.

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People including elderly and women in large numbers were queueing up to get the valid currency notes needed to meet their daily expenses. Many ATMs, which reopened four days after Prime Minister Narendra Modi announced demonetisation of two higher value currency notes, ran out of cash in few hours, leaving people frustrated.

To add to the misery still half of the ATMs are non-functional, making people agitated about the lack of infrastructure preparedness for the note exchange programme. There are about 2 lakh ATMs across the country. The endless wait to get valid currency notes are taking toll on people waiting for hours in long queues as there were reports of many elderly people collapsing.

According to bankers, the situation is unlikely to change for some more time, may be another 8-10 days. They also expressed their apprehensions with regard to chances of crowd becoming unruly for which they feel banks don’t have adequate security arrangements. Reports of chaos and scuffle at bank branches and ATMs streamed in from different parts of the country yesterday. There were also reports of heated exchanges between hassled customers and overworked bank officials at several branches.

Since the recalibration for higher denomination of valid notes is being done for ATMs, the stock of low value Rs 100 got over very fast because of the huge demand, said a banker. Taking into consideration, problems faced by people, the government yesterday extended use of old Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees as well as purchases from co-operative stores by another 72 hours till November 14.

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  1. A
    ajay singh
    Nov 12, 2016 at 8:29 am
    TIME TO INTOSPECTlt;br/gt;A lot of times economists and policy makers get it horribly wrong because they treat humans as a statistic or an object. People are not machines which are checked, rejected, stamped and dumped if found faulty. We are all a combination of good and bad. One should never condemn a large number of people and their families to devastation, only because one of them has a particular shortcoming…they will pull down the society immensely.lt;br/gt;We are increasing living in a world which goes by the principle of guilty unless proven innocent. And we are all to blame. How do we label politicians and rich as horrible or somewhat inferior than poor? As individuals we all are same with pains and pleasures, strengths and weaknesses.lt;br/gt;When people in a society start thirsting for blood all the time, it doesn’t take long for them to spill some of their own.
    Reply
    1. A
      Athena Eos
      Nov 12, 2016 at 10:05 am
      Rs 500 could have been phased out in a gradual manner. What was the hurry here? Modi bhakta unwilling to acknowledge the reality.
      Reply
      1. D
        Dash
        Nov 12, 2016 at 8:10 am
        I have been managing with the money that I had before 8th Nov. Evwryone is favong the same set of issues. Only corrupt people,evangelical NGOs,hawala operators,drug dealers and other antinationals are worried. Demonetization has hit them very hard. 1 thing is for sure-Kejri has again proved that he is corrupt.
        Reply
        1. S
          Sreenivasan
          Nov 12, 2016 at 8:35 am
          I thought I will be able to give a skip to those queues in front of the banks. But tomorrow I must join the queue because I have finished all cash I had and one 1000 rupee note is what I have all left with me now. And without changing that note into small denominations I will not be able to make a short trip to an appointed place where I wanted to meet a person dear to me tomorrow. Even after four days, things are not yet under control. Govt. is at fault for not printing and supplying enough small notes to the banks in advance (they were planning their planning since last six months). They could have stuffed the ATMs with cash in advance. Many things they could have done but their thoughts never reached to that point. Because the most common man, the poorest of the poor was not in their mind when they were doing all their home work.
          Reply
          1. A
            Akashdeep Bohra
            Nov 12, 2016 at 8:34 am
            Even if modi plant a bomb in peoples ,bhakt will be happy....
            Reply
            1. K
              K R
              Nov 12, 2016 at 7:06 am
              PM can not be expected to see each and every minute analytical and operational aspects of implementation of an order. The team entrusted with studying the issue in advance and later implementation should have worked close to heart, (rather it has been bungled) there is lack of in depth study of such an important government decision. One team's dereliction or failure to do the job properly is imposing undue pressure on bank employees as well as undue hardship on common man. I do agree, we must undergo certain hardships for a better future, but that does not mean undue hardships and chaos are created.
              Reply
              1. L
                L bhadrapati Devi
                Nov 12, 2016 at 10:29 am
                Electronic payment and settlement of payment through bank a/c may check corruption to certain extent. Congress, AAP and other political parties encourage corruption to finance for election. Poor suffers even to get the post of peon and sweeper.
                Reply
                1. L
                  L bhadrapati Devi
                  Nov 12, 2016 at 10:27 am
                  Everybody compel to face the inconvenience for a better cause tomorrow. I even got vegetable and chicken on credit because their was no change for Rs 500 hundred and two thousand.
                  Reply
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