Diabytes
Cash shortage News
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Bank employees are facing the wrath of the public for a problem created by the government and the Reserve Bank, association's general secretary C H Venkatachalam said.
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There has been an unusual spurt in demand of cash currency in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar.
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The printing of Rs 2,000 notes has also been halted for a past few days.
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The RBI said shortage "may be felt" in some pockets largely due to logistical issues of replenishing ATMs frequently and the recalibration of ATMs being still underway.
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Finance Minister Arun Jaitley has assured that that cash shortage is being tackled quickly.
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Customers have been queuing in large numbers outside ATMs and banks for the last few days in several cities to withdraw currency notes from vending machines, but most of them were either out of service or had a board notifying "no cash".
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Customers have been queuing in large numbers outside ATMs and banks for the last few days in several cities to withdraw currency notes from ATM machines.
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Officials of several bank branches said that the banks' infrastructure is unable to handle the huge rush resulting in long serpentine queue.
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India's economic growth rate is likely to fall to 6.5 percent in the ongoing quarter and remain subdued at around 7 percent in the January-March period as cash shortage is expected to last at least until next month.
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