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Common man tense, city ATMs see extreme cash crunch

Common man tense, city ATMs see extreme cash crunch

Mangalore Today News Network

 Mangaluru, April 13, 2017: According to the editor of a local daily in Mangaluru, which is substantiated by many public users, ATMs in the city are not in a position to deliver cash due to a serious shortage or else do not work,  this is the case for nearly a week now it is reported.

ATMThe common citizen has been running from ATM to ATM whatever the name without considering the additional fee, but it is a cause for stress and tension without a good result.

Collector’s Gate ATM near Bendoorwell is perhaps the only Canara Bank ATM which had money on April 10, Monday. A senior staff said that  Rs 21 lakh was loaded that day and next day just Rs 3 lakh was left. Many non-Canara Bank customers too visited this ATM though they knew that additional charge will be charged for other users.

One person who can not be named made a statement that he had visited more than 6  ATMs of Canara Bank in the city (Kaikamba, Bikarnakatte, Kadri, Balmatta, Valencia and PVS Circle) on April 10, Monday, but none of them were dispensing cash. Also Dhanalakshimi Bank in Balmatta and SBI as well as SBM in Mallikatta, all did not dispense cash/notes. He said he urgently needed cash and if he had been forewarned he would have got cash from his home bank branch.  Many people said this is far too bad very very often.

Syndicate Bank regional manager said that he has been getting calls from Karwar (Uttara Kannada district) to Kannur (Kerala) seeking cash to meet the demand. “Many people are withdrawing money though they don’t need it after they learnt that many ATMs are running out of money,” he opined and added that using digital money seems to be the only solution as of now. “Hope the situation would ease soon,” he said.

“RBI officials have asked the banks to manage with whatever money they have,” said yet another manager on condition of annonymity. He added that many banks have only currency of Rs 10 and Rs 20 denomination. “Even Rs 100 denomination currency is running out of stock,” he added.

A lead Bank manager said that Dakshina Kannada district has 44 banks and 842 ATMs. They include Canara Bank (151), SBI (113), Corporation Bank (100), Vijaya Bank (82), Syndicate Bank (69), Karnataka Bank (54), Axis Bank (43), ICICI Bank (33), SBM (24), IOB (22), Federal Bank (15) and HDFC (12) among others.  So, are you too rushing off to the bank?

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Comments on this Article
Francis fernandes, Mercara Thu, April-13-2017, 2:09
When will we come out of this problem of demonetization.
Priyanka S, Mangaluru Thu, April-13-2017, 12:34
Cash Crunch not come to Normal yet No changes in ATM’s
Mohamed Basheer, kasargod Thu, April-13-2017, 12:15
Still the problem of money hasn’t come to normal. The ATM’s are still out of cash .when will the problem set right
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