Postal ATMs of little use as cash crunch continues
In stark contrast to the heavy rush of customers seeking to exchange their old currency notes at Vijayawada Head Post Office (HPO) at Kaleswara Rao Market and Buckinghampet Post Office, the number of people turning up to withdraw money at the Post Office Savings Bank (POSB) ATMs at both those locations is negligible.
The ATMs are open, but are “temporarily unable to dispense cash” due to the prevailing liquidity crunch. And, like the bank ATMs, their utility is going to be limited only to the extent of disbursement of Rs.100 and Rs.50 notes.
DELAY IN REPLENISHMENT OF CASH IS A PROBLEM
These are the only two on-site POSB ATMs in the city, and delay in replenishment of cash is a problem there too. Besides, these ATMs have also to be recalibrated like the bank ATMs.
Vijayawada HPO Senior Post Master M. Hari Prasad Sarma told The Hindu that the ATM was functioning from Wednesday after Rs.100 and Rs.50 notes were deposited in the machine.
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