Bangalore, salary day: All of the private and government employees wait for the end of the month to get their salary credited in their account. Mostly people who get there salary credited to their accounts rush to the nearest ATMs and banks to withdrew their hard cash money.
People need hard cash at the start of the month to pay to the local, household helpers, like newspaper vendors, milk seller, cable connection, maid and several other people whom mostly it is paid in cash.
However this time it will be different, unlike the previous times, people will think twice before visiting any bank and ATM’s to withdraw their money.
The concerned authorities and the Government of India, is making all the announcements that there is enough cash available with the RBI and at the banks, however the ground realities is totally different. There is no much cash at the banks or the ATMs. You have to really wait for your good luck to get your money in your pocket.
The most big problem lies still is the unavailability of the Rs 500 and Rs100 Notes. While banks are willing to give away Rs 2,000 notes and ATMs are loaded with these high denomination notes, customers are not willing to take these. The government is pushing hard for the cashless transaction. But still in cities like Bangalore even many shops not accepts credit or debit card, forget about Paytm.
Yesterday, Rajesh went to a sweet shop, raj tilak and wanted to purchase some sweet which cost him Rs 450, the shopkeeper was not willing to accept debit or credit card; finally he had to pay in cash.
Though promised by the honourable PM, that the ground realities will improve, the ground situation does not look to improve for the common public
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