SIGN OF THE TIMES: A State Bank of India ATM near Patna Museum displays the dreaded "no cash" sign on Sunday. Despite the Reserve Bank of India (RBI) denying any shortage of currency, people continue to return empty-handed from ATMs.
SBI chairman Rajnish Kumar had on Wednesday claimed that the cash crisis would be resolved by Friday and that 86 per cent of the 2.2 lakh SBI ATMs across the country were dispensing cash. The RBI and the finance secretary, on the same day, had chorused that there was no cash crunch in 80 per cent of the ATMs and there was also enough currency available in the RBI chest.
The central bank had also appealed to people to not "hoard" cash and not withdraw more money than the genuine requirement. The Bihar Chamber of Commerce and Industry had on Friday vented its ire over the denial of the cash crunch reality and appealed to the RBI and the government resolve the problem "before it goes beyond control", saying that the crunch was affecting businesses.
This is also the wedding and harvest season, when people need more cash.
TEXT BY SM SHAHBAZ, PICTURE BY MANOJ KUMAR