Demonetization : No sufficient cash at banks
Source: The Sangai Express
Thoubal, November 24 2016:
Protest erupted outside SBI Kakching Branch today as the bank denied cash withdrawal to its customers, our correspondent reports.
The situation was brought under control after Kakching police and SBI Kakching branch manager made its customer aware of the situation.
Post the demonetization move by Prime Minister Narendra Modi, banks have been having a hard time controlling the large number of people coming to deposit, withdraw or exchange old notes.
Large number of people who were lined up outside SBI Kakching branch since early morning today flared up after the bank notified that cash withdrawal would not be possible today.
The branch manager accompanied by Kakching police intimated the situation to the agitated customers.
He said 2 crores of Rupees each are portioned to all the SBI branches in Thoubal district.
Because SBI Kakching branch covers a larger area than other SBI branches in the district, the allotted cash got exhausted earlier than other branches.
"We have been appealing to the Government to send us more cash immediately," branch manager Chirom Babulal stated.
"Yesterday 20 lakhs in Rs 2000 denomination and 10 lakhs in Rs 100 denomination arrived at the bank yesterday for loading at ATM booths," he said.