- The bank sources confirmed that ₹500 notes will start circulating soon but ₹100 notes will still be short in supply.
- Logistics issues faced by Finance Ministry and RBI is the reason behind the delay in new currency note.
Three weeks have passed since demonetisation of 86% currency note in circulation, and still, many ATMs across the state and Bengaluru is 'temporarily out of service' due to no cash situation.
As per a New Indian Express report, Karnakata has 16,929 ATMs, and about 70% of them have been calibrated and configured for the new currency notes. But, since ₹100 notes are in high demand and the new ₹500 notes are yet to be distributed in higher quantity the ATMs are either disbursing ₹2000 notes or are closed due to cash crunch.
According to sources the various logistics issues faced by Finance Ministry and RBI is the reason behind the delay in new currency note and this is why the ATMs are running dry.
The bank sources confirmed that ₹500 notes will start circulating soon but ₹100 notes will still be short in supply.
Since only ₹2000 notes are available in the ATMs but finding the change of the same is an issue, people are not queueing up in the ATMs like before. On top of that non-functioning ATMs have led to more woes for people.
To get the required cash people are now heading towards the banks but the cash crunch is not helping anyone.
Last Updated 31, Mar 2018, 6:39 PM IST