India back in queues after 3-day holiday

New Delhi: India is back in queues after a gap of three days when the banks remained closed. Many banks did not open the ATMs. Some ATMs which functioned in the morning ran out of cash by afternoon. 33 days after the decision of demonetization was announced by Prime Minister Narendra Modi, the common people are yet to feel comfortable.  Even in Chennai, people who stood in the queues and got a Rs 2000 note were found going around shops requesting for change. In Bengaluru, banks remained closed for the the fourth successive day as Tuesday happens to be a local holiday.

In Delhi, people were seen arguing with the bank officials and returning in despair. The ATM went cashless early in the day disappointing hundreds of people who were standing in the queues right from early morning. Even Paytm is not functioning in places where there is no Wi-Fi or power supply. While the common people were cursed to stand in serpentine queues for days for one two thousand rupee note, about RS 130 crore of new currency notes found their way into the bathrooms and secret lockers in the walls of the black money hoarders.  The laddus being distributed by the BJP workers to those who are in the queues may not amuse them although they were seen accepting the sweet. 

In the meanwhile, the RBI has pressed vigilance squads into service to make surprise visits to banks across the country and check the accounts since most of the new currency notes found with black money hoarders went through the banks. These squads are supposed to check the bank accounts and report directly to the RBI. The Central Bank has asked all the banks to preserve the CCTV footage since Novermber 8. In a post-demonetization drive that was stepped up on Tuesday, the RBI issued a number of guidelines and instructions to the banks. These steps were taken after fraud was detected at the banks.

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