Daijiworld Media Network - Bantwal (SP)

Bantwal,  Nov  30: Although the central government  had said that limit on cash withdrawals from banks was removed from November 29 onward, cash crunch continues to affect bank branches, which have been seen to be dispensing cash subject to certain limit on the basis of  cash position in respective branches.

There has been heavy demand for cash now because of month end, as shopkeepers, entrepreneurs etc have to disburse salaries to their employees on December 1. Bank employees were seen to be explaining to customers that they are trying to distribute cash available to as many customers as possible, and therefore, had placed restrictions on amount of cash that could be drawn. They were also seen to be making payment in different denominations like Rs 100, 50, and 10 notes, depending upon the cash positions.

Many ATMs are not functional and several others that are functioning, have no cash. It is said that business houses which regularly remit daily collections to banks also are dithering from remitting cash as they suspect they might not be able to get back cash for disbursal as and when necessary. Currency chests of banks, which are overburdened with requests for cash are unable to meet the demand, it is learnt.

On Tuesday, zilla panchayat member, M S Muhammed, led a protest held in front of Salethur branch of a nationalized bank. Addressing the protesters, he decried the central government's inertia to respond to the problems and needs of the people in general, even after the Supreme Court warned  that people might revolt if the situation does not improve.

Kolnadu gram panchayat president, Subhashcnadra Shetty Kulalu also spoke on the occasion. Bank manager, Sujit, and Vittal station house officer, Prakash Devadiga, were present. A number of gram panchayat members and locals took part in the protest.