No cash ATMS in AP and TS

Once regarded as a paradise for business and FMCG marketeering with huge liquid cash from agriculture etc cash crunch has hitTelangana and Andhra Pradesh in a big way.

All ATMs do not dole more than 5,000 and emergency plea provide only 20,000 in banks as following scams, as bank leadership has withdrawn discretionary powers at various managerial levels following exposure of mega scams at branch levels.

Bankers say that due to rumors the public has stopped depositing funds in banks and instead were spending on gold and real estate in the last six months and the RBI has stopped the supply of Rs.2000 and Rs.500 notes since December.

Bankers contend that cash was not returning to banks other than what is digitally deposited and particularly the Rs.2000 notes are vanishing into hoarding etc.What used to last for six hours in ATMS after depositing cash, is vanishing within one or two hours, they say.