No Respite For Hyderabad 40 Days Post-Note Ban

Even as the 40th day of the ban on the 500 and 1,000 denominations of the Indian currency passes by, Hyderabad's cash woes seem only to increase as most ATMs in the city remain shut citing lack of cash, and maintenance issues.

As per reports, 90% of the ATM machines in the city remain non-functional, forcing people to make beelines outside banks. 100s of people were seen forming lines outside several banks and waiting restlessly to draw money. And outside several other banks, scores of people thronged the premises and shouted slogans at bank officers and demanded that they disburse cash immediately.

Speaking to the media, people outside several banks including the State Bank of India complained that they queue outside banks everyday for nearly four hours, but to no avail. They also alleged that the new 500 and 1,000 notes being printed by the Reserve Bank of India did not reach banks, and they were being given cash in 2,000 denominations.

When asked about their views on demonetization and its impact on corruption they pointed out that it was them who stood outside banks and ATMs for hours, and not big politicians or corporate magnates.

As per other reports, several politicians and industrialists are drawing money straight from mints instead of from banks. This has reportedly alerted the Vigilance department.

Earlier, the Centre promised that the problem would be mitigated within 50 days. But the situation in cities including Hyderabad remain the same even at the end of 40 days.