People are going crazy with the scarcity of the cash component. The life has become stagnant for two days due to non-availability of cash either through the banks or ATM. Under such circumstances the losing of patience is but natural. There are reports of minor fights and damage to the bank properties in Goa due to uncontrollable rush.
According to the available sources, the SBI branch of Canacona had a serious concern over the huge rush at the bank that lead to smashing of glass causing injuries to two customers. No further reports are available as yet in this regards. meanwhile, most of the banks in the city remained overloaded with the customers with a long Q outside the bank premises.
The ATMs of the most of the banks have not yet become operational, though it was promised by the bank authorities that the ATMs will open from 11th November and will dispense 2000 and new 500 notes, but due to some technical problems and lack of cash the banks could not manage to do so.
According to the sources, accept the SBI 18th June Road Branch, no other banks had a enough cash to take care of their customers need throughout the day. The ICICI pulled their shutters down by 5pm while HDFC left with no more cash to dispense by midday. One of the public sector bank disbursed around 1 crore by 3 pm. The sources have revealed that the banking staff of all the banks had really worked very hard to meet up with the existing demand of the customers. According to one customer, lot of people were asking for the 100 rupees denomination but banks could not manage to meet up with their demands due to limited availability of cash.
“I came to deposit old notes and withdraw cash from my account in SBI’s branch at 18th June Road. There were only 3-4 people in the queue. A lot of people were asking for Rs 100 notes, but the bank couldn’t accommodate all of them. I got Rs 2,000 notes and Rs 500 notes.” said one of the customer, Jason Fernandes. Unlike the locals, the tourists, especially the foreigners, had to face more hardship to get their currency converted since the bank staff was insisting on the original documents for the identifications while some had carried only the photocopies of them.
Post offices also run dry dispensing 54 lakh cash in one day that too within just three hours of reaching the new currency, said the sources. “The State Bank of India (SBI) had supplied the notes in the morning and it was over by 3 pm. We will be receiving another consignment on Friday morning that will be dispensed later in the day,” said the Postmaster Vinod Verma of GPO, Panaji.
This scenario will be going to go on for few more days till the matter settles down, meanwhile the PIL (Public Interest Litigation) have been filed in the Supreme Court of India against for scrapping the order of demonetization of 1000 and 500 hundred notes which will come up for the hearing on Tuesday next week. The Central government also have filed the caveat in the apex court which means the court cannot pass the order unless hearing the government’s contention. Based on this latest updates, if the court passes the order against the Government then the notes of 500 and 1000 may become legal currency once again. Let’s wait and watch. Meanwhile if you wish to leave your comments on this issue, please go ahead.
Source: Various Sources
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