Karnataka: Cash crunch, technical glitches leave bankers drained
According to the bank officials, cash counters were closed within a few hours following a huge demand for new notes.
Bengaluru: On the second day after the Union Government demonetized currencies of Rs 500 and Rs 1,000 denominations, hundreds of people thronged banks to get old currencies changed; while banks faced technical glitches and some even ran out to cash.
The customers were made to wait endlessly in some of the banks as the system crashed, while some of the banks and post offices ran out of cash. The transactions at the vegetable shop, hotels and meat shops suffered on the second day too as not many people had currency notes of Rs 100 denomination and not everybody could get new currencies.
At the banks the public had to bring government issued original identity card and a photocopy of the same to be submitted along with a filled up prescribed form.
Scores of people had to either take leave from work or avail permission to get the money exchanged. Soubhagya, a private firm employee said that she had to take half-a-day to stand in the long queue to avail the new currency in lieu of old currency. Since the bank did not set up additional kiosk or desk for cash deposit, currency exchange from account and payment of loans it was chaotic at all the banks, she said. In some banks, security personnel and policemen were posted to ensure that there was no scrambling.
Rs 2000 note a status symbol
Flashing an all-new Rs 2,000 denomination note was trending on social media, with hundreds of city residents standing in long queues to get a ‘first look’ of the newly-introduced Rs2000 and Rs500 notes.
According to the bank officials, cash counters were closed within a few hours following a huge demand for new notes.
Yesvant Ravi, an engineering student from Malleswaram, said that everyone was curious about these new notes. “It is fun to have those notes in your possession on Day One,” he said.
Refund issues: Many train passengers were found complaining that they had to undergo hardships while getting ticket cancellation refunds. But railway officials denied the charges.