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India's Many ATMs Have No Money To Take. People Roar: Is It A Display?

Edit:Longtop Technology (HK) LimitedUpDate:Oct 22, 2018

China Daily Online, April 18th The "cash shortage" phenomenon has recently appeared again in parts of India. According to Indian media reports, on April 17, local time, Valdora, Delhi, Bhopal, Varanasi and other large cities showed insufficient liquidity, and there was no cash in the local ATM (ATM).


India’s ANI News Agency reported that “people are complaining that there is no cash in the ATM, and most ATMs have been suspended. Some teams that have been in the market for a long time are taken from a normal cash machine. 10,000 rupees (about 957 yuan)."

The citizens of Delhi also complained online: "We are facing a shortage of cash. Most cash dispensers have no cash to choose from, and only a few of them have cash and only a denomination of 500 rupees. 48 yuan).


The people of Varanasi said: "We don't know what is going on and what went wrong. However, there is no banknote in the ATM, which makes everyone face difficulties. Just this morning, we ran 5 6, 6 ATMs. We really need cash to pay the children's tuition to buy daily necessities."


There are quite a few Indian netizens who spit on the Internet. One of the netizens wrote: "If there is no money in it, what is the use of ATMs? Modi (Indian Prime Minister) said that he wants to build digital India and promote cashless transactions. Every time a consumer makes a transaction, he is There is an extra charge." Others said: "When people have neither a job nor money, what do the ATMs do?"


In response to the “cash shortage” phenomenon that occurred in many places, the Bank of India and the Ministry of Finance said on the 17th that this is related to the increase in cash demand for holiday activities across India and has nothing to do with the bank's own capital reserve. India's current cash inventories are abundant and the problem will be resolved soon.


On November 8, 2016, Indian Prime Minister Modi announced the abolition of the large denomination of the Indian rupee, demanding that the Indian people exchange new banknotes before the end of the year, and stipulated that heavy penalties could not prove the deposit of income sources However, there are constant doubts in India about the "waste money order" policy. Opponents believe that the "waste money order" will not cure the problem, the corruption problem will not be solved, and any banknote will not help the anti- Corruption, and the "waste money order" will have a negative impact on the economy.