By Admin 
ATM Cash Crisis: If you live in a small city or town and often withdraw cash from ATM, then this news is important for you. Organizations associated with the ATM industry have warned that there may be a shortage of cash in ATMs in many Tier-2 and Tier-3 cities of the country. If the situation does not improve, many ATMs may be temporarily closed.
What is the whole matter?
CATMi, an organization of ATM operators, has expressed concern to the RBI and banks that in many states, sufficient cash is not available to refill ATMs. The organization says that in small towns and rural areas, there is difficulty in getting cash to ATMs, due to which the cash crisis can deepen.
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Why is small towns more affected?
According to media reports, complaints of imbalance in cash distribution have come to light in many ATMs of SBI, which has the country’s largest ATM network. It is alleged that more cash is being sent to big cities and metro areas, while not enough cash is reaching the ATMs of small cities and towns. Due to this the ATMs there are getting emptied quickly.
CATMi says that operators have to bear the loss of transaction and interchange fees when ATMs are closed due to cash shortage. The industry claims that they have suffered a loss of more than Rs 100 crore due to this problem and for this reason they have also demanded compensation from the banking system.
Increasing costs also increased the difficulty
The problems of ATM operators are not limited to just lack of cash. Rising fuel prices, increased salaries of employees and increase in operating expenses are also putting pressure on this business. On the other hand, the number of people withdrawing cash from ATM has also declined because the use of digital payments has increased rapidly.
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Do common people need to panic?
At present experts say that there is no shortage of cash in the country. The problem is not related to the availability of cash, but its supply and distribution to certain areas. RBI has also made it clear that it has sufficient currency reserves and cash will be made available immediately where needed.
Advice for those withdrawing money from ATM
If you live in an area where ATMs are few, it may be wise to have cash in advance in case you need it. Also, increasing the use of UPI, net banking and other digital payment options will reduce the problem in such a situation.
What is the situation at present?
The ATM industry has demanded an early solution from RBI and banks. The organization says that if the problem of cash supply in small cities is not resolved, ATM services may be affected. However, RBI has assured that customers will not face shortage of cash.