Hyderabad grapples with cash crunch woes

Hyderabad: Poonam Surana of Bowenpally visited five ATMs of various banks and still failed to withdraw any cash as the majority of ATMs in the city run dry. Even in those that have not, Rs 2,000 notes are just not available. With most ATMs displaying ‘No Cash’ or ‘Temporarily out of Service’ boards, Telangana and Andhra Pradesh are among the Indian states facing a major cash crunch. 

City residents say there has been a scarcity of currency since January and cash in ATMs is not replenished for prolonged periods. Also, the non-availability of cash means that many salaried customers have been withdrawing large sums at one go whenever they get a chance. 

“For over 10 days, cash has been scarce in ATMs in Gachibowli, Yousufguda, Jubilee Hill, and Banjara Hills. Some of the ATMs are shut. The problem is not limited to one location, since I’ve been facing it at many places. Even at the bank branches, customers should at least be informed of the issue,” says Ravi Kiran, a resident of the city. More than half of the ATMs in Mahbub Nagar and Nalgonda have also run out of cash.

Another resident, Anita Baig, adds, “I visited seven ATMs in Ameerpet, and only two had very little cash. I didn’t get the amount I wanted, so I went to the bank and withdrew my entire current account.” Says resident Kunal Varzi, “When I visited my bank to withdraw a large amount, bank officials requested me to reduce the amount as the bank was running short of cash.”

Besieged by complaints, a few banks have come forward to acknowledge the problem. ICICI Bank used social media to inform its account holders and said, “We regret the inconvenience, the issue is under consideration”.  

However, banks have been unable to provide a reason for the lack of cash in ATMs. While those making online payments and using mobile wallets are yet to feel the pinch, senior citizens, especially pensioners, are suffering.