Cash crunch hits hyderabad

Hyderabad March 13: Cash crunch again hits the Hyderabad City. Citizens are now facing the cash crunch problems even after one week. Cash crunch problems have been started by March 1st but in vain there is no solution for the people even after 12days.

In Hyderabad near about 5000 ATMs are available and all the atm are welcoming with " NO CASH " board in front of the ATM.Most of the ATM have a long queue in order to get the money.

ATM's remains closed after filling money in respected atm's within a span of minutes.

on the occasion of HOLI also people were have been faced the cash crunch problems. Especially LB NAGAR, MIYAPUR, JBS, FALAKNUMA, NAGOLE, HITECH CITY citizens have been facing the problems.

Generally, we often see, Most of the people were using different credit cards by taking huge cash in ATM.

People generally prefer cash transactions in the combination of Rs 2000 or Rs 100 notes or Rs 500 and Rs 100 notes. It also helps in easy exchange of cash.

"If I don't have the required combination of notes, I cannot do business. I need to strike a balance between different notes. There is no point holding cash in single denomination. I need a combination of small and big denomination currency," said V Karthik Sundar, owner of a pharmacy in Domalguda.



Immediately after demonetization, there was a severe shortage of Rs 500 notes. ATMs were stuffed with Rs 2000 notes. As a result, transactions were hit. The situation is similar now. "We now have Rs 500 notes. There is a shortage of Rs 2000 and Rs 100 notes," said a senior manager of a public sector bank.

"We are under tremendous pressure from customers," he said. Officials said the main reason for an acute shortage of Rs 2000 notes was a recalibration of printing machines of Reserve Bank of India (RBI).

"Once printing machines are recalibrated for a certain denomination, only those notes are printed for about 10 to 15 days. Only then, they are recalibrated for another denomination," said an official of the apex bank.