Bengaluru: If you thought cash crunch was the only problem one can face at the bank, you're wrong. There is an unwritten policy where a person can withdraw only in the branch where they hold an account but not any other branch of the same bank.
Nirmala Ramaswamy, a senior citizen, faced problems withdrawing cash because of this rule. “I am an arthritis patient and need money for my medical test on Saturday. Though I am a customer of this bank, they told me to go to the branch where I hold my account. I can't keep running around like this,” she complained.
Fortunately, considering her condition, the bank made an exception and let her withdraw Rs 4,000. Since the amount is not enough, she will have to return to the bank next week. She is one among the many, suffering the effects of demonetisation.
The withdrawal limit in certain banks is much below the RBI prescribed limit of Rs 24,000. For those who run businesses, paying their workers are an added stress along with personal expenses.
“I own a factory that manufactures chamber pots. We have daily wage workers who are paid Rs 450 a day. I got only Rs 4000 from the bank, and only in Rs 2000 denomination. How am I supposed to pay each of them?” questioned Shashikala. However, some banks are reportedly disbursing the amount as stipulated by RBI.
A bank official, on condition of anonymity said, “If a bank has many branches in Bengaluru, it will have to ensure they all receive cash. Thus, each branch will get little. Those banks that have few branches in the city, can give more to each customer,” he said. This also explains why we tell our customers to only go to their own branch, he added.
With December 2 the last day to accept the old '500 notes and distribution of the new ones yet to begin, the cash crunch may not see much of an improvement in the next few weeks.
