just about 20 to 30 persons in queue will be served before ATMs become empty ! So far, 50 to 60 persons used to get cash from an ATM on average in most regions.
Re: Cash withdrawal for current a/c
by Kumar on Jan 16, 2017 10:54 PM
Do not worry. In fact, 95% of the ATMS do not have cash or down due to technical snag. Only 5% ATMs in the country sometimes dispense cash.
Re: Re: Cash withdrawal for current a/c
by kashyap mehta on Jan 17, 2017 10:25 AM
its not about withdrawing cash from ATM. It is about withdrawing cash from current account. now some people will withdraw 4.00 lakhs per month and use it informally many times over and escape the tax net. At ground level many such people had started doing formally and started paying taxes, which will again come to a halt.
It has been a joke with most of the ATMS still inoperative or out of cash. When will the people get smaller denomination currency? Will the operative ATMs be full of 2000 rupee notes only and for how long? We can not purchase veg with 2000 rupee notes.
Re: ATM withdrawal limit raised to Rs 10,000
by Suresh on Jan 16, 2017 08:21 PM
Most business establishment including small veg shops are having change to my surprise. A lot are using card machines, which is another surprise. I just came from a total village south of pattukottai (TN), and i see business as usual. Yes they are bruised a bit by deMo, but they are not totally out. So i am thinking the DeMo effect is easing out.