Banks struggle to cope with increasing demand
Posted on: 11/Nov/2016 4:37:36 PM
With exorbitant increase in demand, the bank branches in Chennai started shutting down, as the currency chests also started running dry.
At Parrys, Triplicane, Anna Salai, Nandanam and Velachery, the bank branches of SBI, Indian bank and IOB were all shut. Even the leading private banks like the ICICI or HDFC could not function as most of the branches were kept closed. By 10 am, all the banks started running out of money to dispense to the crowd. In another two hours, there was no Rs 100 or Rs 50 notes left.
We are trying to deal with the demand with Rs 100 notes. Only a chest of Rs 500 notes is left with us. In the evening, we will be opening our bulk note acceptors and it will take longer time period for the ATMs, says the MD of City Union Bank, N. Kamakodi.
Bank employees are dedicated and work overtime and say that it is truly arduous to handle the customers and their demands. Most banks including SBI had dispensed only Rs 2000 notes, despite the fact that the daily limit is fixed as Rs 4000.
