Demonetization impact in Delhi
Post demonetization there is huge cash crunch across cities in India. I visited Delhi today and found out that cash crunch problem is much worse that what I faced in Mumbai, Bangalore or Ahmadabad. Out of 20 ATMs I visited, 19 ATMs were out of cash for several weeks in a row now. Also the those those which have any money have long ques standing for hours before them. I was in need of cash and I stood in an SBI ATM line at 7.30 in evening after a lot of hick ups with machines getting hung up in between and some people creating ruckus , i finally got 2500 Rs at 10.15 pm at night. It was grueling experience but I was happy that at i did my part in fight against the black money, hoping that things will become much better once this demonetization exercise is over.
While ATMs in Mumbai and other metro cities seem better equipped though. In Mumbai most fo the ATMs do have the money early in morning, it may finish few hours later but on the contrary the ATMs in Delhi do not have any money for quite few weeks at a stretch. We are not sure why is this disparity in money distribution in ATMs between Delhi and other cities but it certainly seems very odd and disturbing.
People keep on moving from one ATM to another and still cannot find the money. This hard hitting cash crunch situation seems to have done a lot of damage on cash based trades and used good sales like used bikes sales and roadside food vendors . Their business is affected and consequently these guys are still accepting old notes of 500 and 1000 even till date. As there is no option out for them. They need more cash for sure.
Country and Delhi certainly needs to see better than this for sure!!
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