Money crisis in ATM!
There are reports of shortage of cash in ATMs in many states of the country. ATM industry organization CATMi has informed the Indian Banks Association (IBA) and the Reserve Bank of India (RBI) about this problem. The organization says that many ATMs are not getting sufficient cash, due to which the risk of services being affected has increased. Especially in rural and suburban areas, people are facing difficulties in withdrawing money, due to which the concern of farmers and small businessmen has increased. The problem of non-availability of cash has also come to light in some districts of Maharashtra.
There is shortage of cash in many ATMs across the country. Citizens complain that many machines are either empty or have only limited amount of cash available. Organizations associated with the industry say that this problem is becoming increasingly serious and it can affect the daily transactions of common people.
Cash arrived much less than required
According to a Business Standard report, the ATM network needed a total of Rs 94,000 crore in cash during March and April. However, only Rs 61,000 crore was available in March and Rs 54,000 crore in April. Due to this widening gap between supply and demand of cash, ATMs have been affected in many areas.
Problems faced in many districts of Maharashtra
Complaints of cash shortage in ATMs have come to light in many parts of Hingoli, Parbhani and Marathwada regions of Maharashtra. Cash was not available in many ATMs including SBI and Bank of India in Vasmat town of Hingoli. At the same time, many ATMs in Parbhani remained closed due to lack of cash, which caused a lot of trouble to the people.
The biggest impact of cash shortage is being seen in rural areas. Before the start of sowing of Kharif season, farmers need cash, but in many places they are not able to get money from ATMs. Due to this, farming related work and local businesses are being affected.
Industry organization expressed concern
CATMi has said in a letter to the Indian Banks Association (IBA) that in many states, sufficient cash is not reaching bank branches and ATMs. The organization has demanded to strengthen the system of cash supply in rural and suburban areas. According to the report, CATMi has also informed the Currency Management Department of RBI about this issue.
