Banks prepare for long queues as long weekend deepens crisis

RANCHI/JAMSHEDPUR: With bank holidays extending for three consecutive days, residents in the Steel City underwent a harrowing time as most of the ATM kiosks either remained shut or ran out of notes. In the state capital, however, there was enough money in the ATMs despite banks remaining closed.
While many ran pillar to post with the hope of getting some money, some were fortunate enough to come across ATMs which had money.People complained against the establishment's decision to allow banks to remain closed for three days. This comes at a time when the country continues to reel under cash crunch.
"Tomorrow, when banks will re-open, the rush will be huge. Banks should have at least filled up the ATMs once during the holiday period," 52-year-old Rishi Raj Sandhu, a Kadma Uliyan resident, said, after failing to receive loose currency at the local ATM on Monday.
However, the situation appeared to be calmer in the state capital, where sufficient cash was found across several ATMs of public sector banks. Few private bank ATMs remained closed on Monday.
At SBI, Circular Road, where three ATMs are installed at one place, customers did not have to wait in long queues. Amit Kumar, a resident of Bariatu, said, "I withdrew money from one of the ATMs on Sunday but did not have to wait in a queue. Even today, I did not have to wait as the machines are working properly."
In Jamshedpur's Bistupur market, several customers carrying Rs 2,000 notes, had trouble buying essentials as shopkeepers too ran out of change.
"Unless a majority of retailers are equipped with cashless transaction facilities, debit cards and Paytm are of little use to us for marketing purposes," R A Singh, a retired municipal official, said.
Meanwhile, banks here have claimed that adequate cash will arrive on Tuesday.