Hyderabad, January 2
Most of the ATMs were closed, courtesy Prime Minister Narendra Modi’s demonetization announcement on November 8 last year. A few ATMs remained open following the direction to keep them open even though there is without cash.
Cash was deposited in a few ATMs only. Long queues are appearing even 50 days after the note ban. Several ATMs have remained non-functional.
Within hours after note ban announcement, people rushed to ATMs and withdraw cash. All ATMs became empty on the same night. More than 90 per cent ATMs are not working since November 8 last year.
Bank management appoint security guards at ATMs through outsourcing agencies. The ATMs were kept open in the first week after note ban, even though there was no cash. But later majority of the ATMs are closed down.
A few ATMs are kept open but without security guards. The bank managements have removed the security at ATMs as they are not working.
A few security guards are doing their duty as usual even though there is no cash in ATMs. Without maintenance, several ATMs have become dirty.
Meanwhile, long queues in front of banks decreased with only a few people visiting the banks. The banks used to give Rs 2,000 to Rs 6,000 to customers since last week even though customers could officially withdraw Rs 24,000 per week.
But now the banks are letting the customers withdraw Rs 24,000 at one time while a few banks are permitting customers to withdraw up to Rs 50,000 through cheque during emergency. Corporate banks have become liberal in cash withdrawals.
The management companies that provide services to ATMs are suspecting that the number of without cash ATMs may be reduced.