ITANAGAR, Mar 22: For the last couple of days, Automated Teller Machines (ATMs) in and around the Capital Complex have dried up as people stood in long queues to withdraw much needed cash.
The reason, according to the State Bank of India (SBI), Itanagar, authorities is the delay in remittance of cash from the Guwahati branch of the Reserve Bank of India (RBI).
According to the Itanagar regional branch of SBI authorities, cash crunch has hit not only the state of Arunachal but the neighbouring state of Assam, like Lakhimpur and Dhemaji also, following delay of cash remittance from the RBI.
Speaking to The Arunachal Times, the SBI regional branch authorities informed, “There was not enough cash with the state SBI branch to replenish the ATMs around the Capital Complex. ATMs at Naharlagun had also dried up till sometime back. We had to make internal arrangement of cash from Basar branch of SBI to address the recent cash crisis. The same situation also prevailed at some districts like Aalo and Seppa as well.”
The authorities stated that the cash withdrawal limit in the banks was also affected for the past few days which prompted them to resort to divert bank remittance. It helped in addressing the problem for awhile.
“One of the reasons cash remittance from RBI, Guwahati is delayed to the state of Arunachal, has been the problem regarding arrangement of security escort, which has to be provided by the RBI, Guwahati for transfer of cash. Sometimes, the arrangement is delayed, causing such crisis. However, considering the severe cash crisis in the state, we had to make the security arrangement with assistance of the state police. We now hope to address the crisis soon,” they added.
Meanwhile, the SBI authorities have informed that the cash crisis will be over by March 24 next as cash has been transferred from the RBI, Guwahati branch.