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| Provide Security At Banks And ATMs, |
| Provide Security At Banks And ATMs, Home Ministry Tells States: 10 Points
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| INDIA
, 11-November-2016
4:31:43 AM |
| The home ministry has asked all states to provide security to banks, post offices and ATMs amid a scramble for cash three days after the government's sudden decision to take Rs. 500 and 1000 notes out of circulation to crack down on black or untaxed money.
1Millions stood for hours outside ATMs, which reopened two days after Prime Minister Narendra Modi announced that the two biggest currency notes are now just "worthless pieces of paper".
2The desperation for new currency notes grew as ATMs failed to work in several cities, from Delhi and Mumbai to Kolkata, Chennai and Bengaluru. When they finally started functioning, most ATMs ran out of cash early.
3In Delhi, around 3,400 paramilitary and police personnel have been posted at ATMs and banks, said a police officer.
4The Reserve Bank of India, in a statement, urged people to be "patient" and assured that "There is enough cash available with banks and all arrangements have been made to distribute the currency notes all over the country."
5ATMs were to start releasing new Rs. 500 and Rs. 2,000 notes from Thursday midnight, with a limit of Rs. 2,000 a card a day. However, many of the machines had either insufficient cash or had not been reconfigured to disburse the new notes.
6Banks have waived the surcharge for using ATMs of different banks for now. The State Bank of India said on the weekend, there would be separate queues for women and senior citizens and a separate window for deposit and exchange at branches.
7The State Bank of India has said that it could take 10 days for ATM services to settle down to normal. "You have to understand that there are two lakh ATMs (of all banks) in the country but there are only three to four vendors in the country," the bank's
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