40 Days since demonetization, no queues outside banks, ATMs

Editor

Over a month after demonetisation was announced, Jammu and Kashmir has come out of long queues outside banks and ATMs.
States such as Delhi, UP, Punjab and many others are still facing cash crunch even after the 40 days of demonetisation.
Queues have vanished outside banks and ATMs. People faced cash crunch initially, but the situation has started coming to normalcy.
Sources in banks claim that the Reserve Bank of India (RBI) has special concern for the state, as security agencies didn’t want to take any risk in Kashmir due to chaos outside banks.
“We have been given more than what was actually required. The cash was made available to all banks by the RBI on time,” said a source in the State Bank of India (SBI).
Treating Jammu & Kashmir as a sensitive state, the Centre has taken special concern for it. Not only in view of militancy-affected state, but the GOI has also tried to normalise the situation of cash crunch in the state to smoothen the transactions of the security personnel of different agencies working in the state.
“There is no cash crunch for the past more than 10 days. We have sufficient amount of cash in all banks and 95 per cent of our ATMs,” said the Deputy General Manager (DGM), SBI.
Besides, the population density of J&K is less, which made it easy for the bankers to streamline their functioning.
Unlike other states, 95 per cent of the SBI ATMs are working in the state, where people do not have to wait for their turn. Other banks have also made more than 50 per cent of their ATMs functional.
No cash crunch
The RBI has provided sufficient cash to banks in the state, as security agencies didn’t want to take any risk in Kashmir due to chaos outside banks, say sources. The Centre has tried to normalise the situation of cash crunch in the state to smoothen the transactions of the security personnel of different agencies working in the state.

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