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In Udupi few ATMs work, many closed

In Udupi few ATMs work, many closed


Mangalore Today News Network

udupi, Nov 12, 2016: Reports confirm that a few ATMs were functioning in Udupi city, some others were not and there was a queue in front of those which were functioning here on Nov 11, Friday following the government’s move to demonetise currency in the denomination of Rs. 500 and Rs. 1,000.


udupi


While some said that they had to struggle because they could not get money for loan payments, others said that they did not mind waiting in the queue in front of the ATMs to get money.

A customer who works as an accountant in a private firm, said that he had gone to four to five ATMs before coming to the ATM at the Catholic Centre of SyndicateBank to withdraw money. “I want to draw money as I have to repay a loan. It is slightly tough for those having to withdraw money for bulk payments,” he said.

An engineer in Mysuru, said that he had to struggle to make payments as in some places, people were not accepting Rs. 500. “It is a big problem to get change,” he said.

A medical representative, said that most ATMs on the route from Kundapur to Udupi were closed. Some ATMs in Udupi too were closed. “Waiting in a queue to get money is quite irritating,” he said.

One taxi driver said that he did not mind waiting in the queue. “It is no big deal to wait before the ATM. This problem will get solved soon,” he said.  Another  taxi driver, said that he was not bothered about waiting as the move would help the country.

Lead District Chief Manager, told media that earlier banks were loading currency in the denomination of Rs. 100, Rs. 500 and Rs. 1,000.

But now they could load only currency notes of Rs. 100 denomination, some had the provision of loading notes of Rs. 50 denomination. Some ATMs were not working because of shortage of cash as all the branches required Rs. 100 currency notes for exchange, he said.

He said there was a rush in all rural branches for exchanging the invalid notes. In a rural branch at Vandse in Kundapur taluk, the police had to be called to control the crowd.

Most rural people were storing currency notes instead of depositing in banks. On an average, the rural branches were reporting a collection of about Rs. 1 crore per day, while the urban branches around Rs. 5 crore per day.


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Comments on this Article
Prashanth K, Ullal Fri, November-11-2016, 10:58
Yenu Maadalu hogi Yenu Mdithiri Neevu (Modi). Idda kaasu illadagi hoyithe. Kota note down down
Nuthan Mallya, Kenjar Fri, November-11-2016, 10:56
Jeevana Kasigagi paradata vagide.
Suraj R Bhat, Mangalu Fri, November-11-2016, 10:53
Currency demonetization hs disrupted the life of normal people. Though they have money not able to use, as all are short pf change
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