Improving ATM availability
Per the attached poll graphic, 46% citizens still could not find a cash dispensing ATM last weekend.
As we approach Dec 30th, what do you propose should be the immediate actions by the Govt to improve cash availability and more so directives issued to banks to improve availability of cash dispensing ATMs. We look forward to your inputs! more
As we approach Dec 30th, what do you propose should be the immediate actions by the Govt to improve cash availability and more so directives issued to banks to improve availability of cash dispensing ATMs. We look forward to your inputs! more
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A cursory survey of quite a few ATMs since the First January has shown that at least over 99% of them are now working NORMALLY. more
Jan 06
It is obvious that all ATM machines have to undergo alteration to accommodate the new notes whose sizes are different than the old ones. That took some time. Moreover why so many people have to rush to ATM? If they all have the ATM card they could have made line for the withdrawal why ATM .Banks shall give strict warning to the outsource agency who are supposed to refill the aTM in regular basis. more
Jan 03
Unless the ways and means for concealing wealth & Black Money in its other forms the challenge to Tax Authorities and Government will continue and is natural . Government to strictly and acutely redress these various means through this ensuing Budget and the preferred way of Ordinances needed . more
Dec 29
It is basically herd mentality coming in to play with people saving the currency for the rainy day. One effective way could be to flood the banks and ATM's with currency notes especially the Rs 500 Note, for a period (may be undisclosed) of say 15 days. This will instill confidence in the public mind but may require careful logistics planning. The withdrawal limit could also be dispensed with for the period with (confident) announcements from RBI and the GoI. One important adjunct should be to remove all transaction charges on card use at least for quarter. The Banks, Visa, and Master are certain to resist this but it would go long way in easing the currency crisis mainly in the cities. The discount offered on fuel purchases at pumps is too low to be effective and should either be withdrawn altogether or made at least 5%. GoI and the petro companies which has already filled their coffers by raising the excise duties several times and not passing the actual savings when the petroleum prices were low over the past two years could easily foot the bill for the discount. more
Dec 29
