Cash crunch in many states; ATMs go Dry

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New Delhi: Life has become miserable for the majority of residents, especially traders, with ATMs in the city running out of cash. Four major states – Uttar Pradesh, Bihar, Madhya Pradesh and Gujarat are once again heading towards a serious cash-crunch, the problem very similar to the after-effects of Demonetisation in 2017.People are having a harrowing time in the scorching heat running from one ATM to another in search of money.

On Monday People were seen distressed running after ATM to ATM to withdraw but were disappointed to find that all the ATMs had run dry.

Irrespective of the fact whether the ATMs belong to public or private sector banks, there is no cash. The ATMs, in fact, were cashless on Sunday afternoon and were not refilled until late afternoon on Monday.

RBI officials have reported that the problem is due to a huge demand during the festive season and the problem would normalize in a couple of days.

 

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