Cash Crunch still continues in Telangana

Hyderabad, Apr 21: In a row of cash crunch, One of the largest bank SBI said that cash is now available in about 70 percent of ATMs by evening. The situation is also improving with other bank ATMs as RBI locally has been supplying cash since Thursday, according to SBI Telangana chief general manager J Swaminathan.

It may be recalled that several ATMs have ran out of cash in the past few days. 'No cash' boards were put up while there were serpentine queues at some ATMs which had cash.

In a statement issued on Friday, it said it had done cash loading in three batches and things have been improving and it had witnessed reduction in the number of withdrawals. Normalcy will return next week if the same trend of cash refilling and lower withdrawals continued.

The issue also came up for discussion at the State Level Bankers' Meet, where State Finance Minister Etala Rajender and Agriculture Minister P Srinivas Reddy asked the banks to ensure there was enough cash in circulation in Telangana. This would ensure that the farmers and common man are not put to difficulty.

The ministers stressed that confidence on the banking system will erode if there was no adequate supply of cash with banks.