AJIT JOHN
PANJIM: Rajesh Fernandes and Shrikant Pense had similar expressions on their faces. Both had stood for over an hour in the queue outside the HDFC bank on 18 June Road in Panjim. The sun was beating down pretty hard and the sweat was visible on their brow. Their main concern was not that they had spent so much time waiting to access the ATM machine but worried the cash would be over when their turn came.
There were thousands of Rajeshs and Shrikants all over Goa as people struggled to get their hands on their money and banks stumbled as they tried to serve clients.
A senior manager at a nationalised bank in Panjim said, “People have panicked and everyone has come in at the same time to get their hands on liquid cash. The system has collapsed, this is going to be the case for the next 15 or 20 days till everyone gets a hang of the system.”
A junior banker said, “We had filled the ATMs at midnight but by 1.30 am it was empty. People came over at 6 am and it was a mess. I can tell you confidently that this was a fate suffered by several other banks. We usually just fill the ATM once a day and the senior management have not decided if we have to refill it twice a day as per demand.”
Jorge da Costa, Circle Head, HDFC, said the bank had been deposited Rs 100 denomination notes and they were working without a hitch from Thursday.
The queue outside Yes Bank was not as long as the others but the silent frustration was quite obvious.
People waiting outside the ICICI branch off 18 June road were perhaps the only people who did not look hassled. Sandeep Gote, a visitor to Goa from Mumbai said he had reached the head of the queue after spending 15 minutes in the line. The line had around 20 people. He said, “The ATMs have cash, I was assured by the executive standing outside.”
This was confirmed by Aparajita of the corporate communications team who revealed the bank was following the withdrawal patterns in all the major branches and had made the requisite arrangements to refill them. Smaller branches would be refilled once every day.
Axis Bank ATM in Panjim was off limits to customers with long lines in front of the staff dispersing cash. Attempts to contact the Circle Chief, Bhooshan Rege, proved futile and a junior executive in the branch said it was felt that money ought to be dispensed by staff rather than the ATM. This meant an office meant to cater to 65-70 people at a time was struggling to handle over 150 people. Shrikant Dave said he had been waiting for over 45 minutes and the line was taking a long time to move.
Perhaps the words of the junior executive at the nationalized bank may prove prophetic when she said, “Give it another 15-20 days it is going to be chaotic.” Tough days ahead.
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Cuncolim faces major problems
CUNCOLIM: Banks in Cuncolim, Assolna, Velim, Chinchinim and Balli witnessed a mad rush of people who had come to exchange Rs 500 and Rs 1000 notes or deposit them in banks. Though announced that ATMs will be opened on Friday all such machines were closed with signs informing of the same. From 8 am to 5 pm long queues were seen and banks were not able to control the crowd. There were no separate lines for senior citizens and even aged women were standing in the queue. Some people succeeded in exchanging their old notes but shopkeepers had no change for the Rs 2000 notes. People who wanted to shop for Tulshivivah on Friday were forced to use debit or cards while others purchased on credit from shops. Post offices in the area also did not exchange old notes.
