The officials of the SBI said that the cash crunch in Telangana and Bihar would be resolved by the evening of Friday. The money is on the way and it will reach the respective destinations by Thursday evening they confirmed.
The issue is that the cash is not in circulation they stated. The cash withdrawals are happening and deposits have become very less he stated. Due to this, there is no proper circulation of cash in some states they opined.
It may be noted that the Finance Minister Jaitley and his deputy also have agreed that there is some issue with the cash, but it is a temporary phenomenon they explained.
The RBI also added that more cash of denominations required is being printed and that will come into circulation at the earliest they stated. The Congress leaders and Rahul Gandhi the chief blamed Modi the PM for cash crisis. They alleged and charged that Modi spoiled the banking system.
On the other hand the SBI, in reality, is making holes in the pockets of customers. There is no cash in ATMs but the bank is charging the ATM fees blindly. The Bank is charging the fee for people who do not have ATM cards also. In the same fashion, the Banks are taking money for the insurance without getting consent from the customers or account holders.
The Banks are making money on everything that they like. Some customers do not know why the banks are deducting money in small amounts from time to time. After demonetisation, the banks are doing whatever they want in the name of the new software. Some banks are collecting last year TDS also.