We are into the Sixth month after the Demonetization, but the cash crunch just refuses to die down. Despite RBI claiming constant Cash flow to the states, cities like Hyderabad are witnessing severe cash crunch with No Cash Boards at the ATMs and Withdrawl limits in Banks.
Besides the dry ATMs, digital payments are also not giving respite to the people as the trader’s cash, not digital payments. If the customers insist, they demand an extra charge of 2% which is burning a hole in the pockets of the consumers.
Most of them are against the Swipe machines since every transaction is recorded, exposing their volume of business, which is mostly carried out without bills and forces them to pay taxes. Also, the banks have brought back the 1% commission levied on digital payments.