Banks planning to ration cash to meet pay day demands: Sources

According to sources, banks are disbursing Rs 10,000 crore via branches and ATMs per day. ATMs continue to be short of cash even as the payday cycles is set to start.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney master your money IThe Winning Leap SME Special
Moneycontrol

Home » News » Current Affairs

Dec 01, 2016, 04.01 PM | Source: CNBC-TV18

Banks planning to ration cash to meet pay day demands: Sources

According to sources, banks are disbursing Rs 10,000 crore via branches and ATMs per day. ATMs continue to be short of cash even as the payday cycles is set to start.

Like this story, share it with millions of investors on M3

Banks planning to ration cash to meet pay day demands: Sources

According to sources, banks are disbursing Rs 10,000 crore via branches and ATMs per day. ATMs continue to be short of cash even as the payday cycles is set to start.

Post Your Comments

Share Cancel

The banks are bracing themselves for chaos and further cash crunch as they gear for the pay day. Sources have told CNBC-TV18 that the banks are rationing cash to be able to meet about half of cash demand from the public.

According to sources, banks are disbursing Rs 10,000 crore via branches and ATMs per day. ATMs continue to be short of cash even as the payday cycles is set to start.

Pan-India ATMs are disbursing only Rs 4,000 crore per day.

As per the numbers by SBI, it alone manages approximately of 50 percent of RBI’s currency sheets. The bank is disbursing Rs 5,000-6,000 crore per day of which Rs 1,800-2,000 crore is from ATMs and remaining from the bank.

However, the government sources said that the Reserve Bank has assured Finance Minister that adequate arrangements been made for the pay day.

All government security presses printing the Rs 500 note.

Watch video for more..
Buy, Hold, Sell ? Hear it first on M3
Banks planning to ration cash to meet pay day demands: Sources

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login