The queues outside bank branches and automated teller machines have been deceptively short over the last few days. Whether that's because the cash crunch has in fact started to ease or ATMs and bank branches are perennially out of cash is up for debate.
On Thursday, highlighting the measures taken to normalise the cash crunch situation, the government told the Supreme Court in an affidavit that the number of recalibrated ATMs are increasing day by day. Later in the day, the Minister of State for Finance MS Gangwar told BloombergQuint that Rs 35,000-40,000 crore worth of new currency notes have been fed into the banking system to deal with the pay day rush. But the situation on ground told a different story.
Read: Helpless And Cashless In Thane: Workers Suffer As Businesses Struggle On Pay Day
On India's first pay day after the government's demonetisation drive, long queues made a comeback outside bank branches and ATMs as people lined up to withdraw at least some of their salary in order to meet their expenses.
Many were annoyed by the rush and the arbitrary withdrawal limits set by banks. Some said the limit was too little for them to avail of even essential goods and services; while some struggled to pay rents, others skipped work for long hours, parking themselves outside ATMs and bank branches. The situation could get worse in the coming days as more people will receive salaries, harrowed citizens in Mumbai and New Delhi told BloombergQuint.
Read: Mobs Lock Up Bankers as Pay Day Turns Pain Day in India
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