Most banks in Bengaluru continued to face a shortage of cash and therefore had significantly lesser rush. "We are getting only about 60% of cash we need to meet the demand," said P V Kamath, branch manager of Cantonment branch of Canara Bank. Since the demand is more in Bengaluru and supply from Reserve Bank of India (RBI) is insufficient, the bank is now getting cash from currency chests in Mysuru, Mangaluru, Chintamani and such smaller places.
They have limited the amount customers who can withdraw to Rs 6,000 from savings account and Rs 10,000 from current account. "We don't want a situation where we have no money to serve customers. But, if people request for more, we are not denying them," Kamath said.
Several banks have resorted to such measures to serve more customers but this amount is hardly enough to meet household expenses, people said. Anu Cauvery, a lawyer, withdrew Rs 6,000 from a branch of HDFC bank. "They are not giving more than this at a time. My maid and cook don't have bank accounts so I need to pay them in cash," she said.
The new Rs 500 notes are still hard to come by. A branch of Corporation Bank in Indiranagar received a supply of Rs 5 lakh in Rs 500 notes after a gap of 10 days. Abranch of SBI in Indiranagar has not received the notes at all. "ATMs are given priority for Rs 500 notes. Once refilled, it lasts for about four hours because people queue up to withdraw," said Vatsala V, chief associate at the bank.
The machines the bank uses to count cash will have to be replaced, she said. "The current machines cannot detect fake notes because of the new security features, For now, since there are hardly any deposits of the new notes, we are using an older machine to detect authenticity," Vatsala said. The bank will make arrangements for new machines by January, she said.
![]( "People queue up outside a State Bank ATM at Lingarajpuram branch in Bengaluru on Tuesday. DH PHOTO")
Most banks in Bengaluru continued to face a shortage of cash and therefore had significantly lesser rush. "We are getting only about 60% of cash we need to meet the demand,” said P V Kamath, branch manager of Cantonment branch of Canara Bank. Since the demand is more in Bengaluru and supply from Reserve Bank of India (RBI) is insufficient, the bank is now getting cash from currency chests in Mysuru, Mangaluru, Chintamani and such smaller places.
They have limited the amount customers who can withdraw to Rs 6,000 from savings account and Rs 10,000 from current account. "We don’t want a situation where we have no money to serve customers. But, if people request for more, we are not denying them,” Kamath said.
Several banks have resorted to such measures to serve more customers but this amount is hardly enough to meet household expenses, people said. Anu Cauvery, a lawyer, withdrew Rs 6,000 from a branch of HDFC bank. "They are not giving more than this at a time. My maid and cook don’t have bank accounts so I need to pay them in cash,” she said.
The new Rs 500 notes are still hard to come by. A branch of Corporation Bank in Indiranagar received a supply of Rs 5 lakh in Rs 500 notes after a gap of 10 days. A branch of SBI in Indiranagar has not received the notes at all. "ATMs are given priority for Rs 500 notes. Once refilled, it lasts for about four hours because people queue up to withdraw,” said Vatsala V, chief associate at the bank.
The machines the bank uses to count cash will have to be replaced, she said. "The current machines cannot detect fake notes because of the new security features, For now, since there are hardly any deposits of the new notes, we are using an older machine to detect authenticity,” Vatsala said. The bank will make arrangements for new machines by January, she said.
They have limited the amount customers who can withdraw to Rs 6,000 from savings account and Rs 10,000 from current account. "We don't want a situation where we have no money to serve customers. But, if people request for more, we are not denying them," Kamath said.
Several banks have resorted to such measures to serve more customers but this amount is hardly enough to meet household expenses, people said. Anu Cauvery, a lawyer, withdrew Rs 6,000 from a branch of HDFC bank. "They are not giving more than this at a time. My maid and cook don't have bank accounts so I need to pay them in cash," she said.
The new Rs 500 notes are still hard to come by. A branch of Corporation Bank in Indiranagar received a supply of Rs 5 lakh in Rs 500 notes after a gap of 10 days. Abranch of SBI in Indiranagar has not received the notes at all. "ATMs are given priority for Rs 500 notes. Once refilled, it lasts for about four hours because people queue up to withdraw," said Vatsala V, chief associate at the bank.
The machines the bank uses to count cash will have to be replaced, she said. "The current machines cannot detect fake notes because of the new security features, For now, since there are hardly any deposits of the new notes, we are using an older machine to detect authenticity," Vatsala said. The bank will make arrangements for new machines by January, she said.
Most banks in Bengaluru continued to face a shortage of cash and therefore had significantly lesser rush. "We are getting only about 60% of cash we need to meet the demand,” said P V Kamath, branch manager of Cantonment branch of Canara Bank. Since the demand is more in Bengaluru and supply from Reserve Bank of India (RBI) is insufficient, the bank is now getting cash from currency chests in Mysuru, Mangaluru, Chintamani and such smaller places. They have limited the amount customers who can withdraw to Rs 6,000 from savings account and Rs 10,000 from current account. "We don’t want a situation where we have no money to serve customers. But, if people request for more, we are not denying them,” Kamath said.
Several banks have resorted to such measures to serve more customers but this amount is hardly enough to meet household expenses, people said. Anu Cauvery, a lawyer, withdrew Rs 6,000 from a branch of HDFC bank. "They are not giving more than this at a time. My maid and cook don’t have bank accounts so I need to pay them in cash,” she said.
The new Rs 500 notes are still hard to come by. A branch of Corporation Bank in Indiranagar received a supply of Rs 5 lakh in Rs 500 notes after a gap of 10 days. A branch of SBI in Indiranagar has not received the notes at all. "ATMs are given priority for Rs 500 notes. Once refilled, it lasts for about four hours because people queue up to withdraw,” said Vatsala V, chief associate at the bank.
The machines the bank uses to count cash will have to be replaced, she said. "The current machines cannot detect fake notes because of the new security features, For now, since there are hardly any deposits of the new notes, we are using an older machine to detect authenticity,” Vatsala said. The bank will make arrangements for new machines by January, she said.