As most of the states in India are facing cash crunch and chain of ATMs stand cash starved, J&K Bank with the timely support of Jammu Regional Office of Reserve Bank of India (RBI) has restored sufficient cash supply in the Kashmir valley.
“Acting swiftly on the disruptions reported in the functioning of ATMs due to cash starvation, J&K Bank requested the RBI to mitigate the sufferings of the people by providing sufficient cash in the valley,” chairman Parvez Ahmed said, according to a statement issued by the bank.
Parvez expressed ‘satisfaction over the restoration of cash supplies to the currency chests managed and operated by J&K Bank in the valley, and thanked RBI for helping the bank out of the crisis.
A few days back, some of the ATMs across the valley had gone dry after deficient cash supplies hit the currency chests here, the statement said. The cash situation had further deteriorated following three consecutive holidays, it added.