Panic-struck LVB customers throng ATMs, branches

Panic-struck customers thronged Lakshmi Vilas Bank branches across the district to withdraw cash here on Wednesday after the Reserve Bank of India (RBI) placed it under moratorium.

The RBI had on Tuesday proposed a draft scheme of amalgamation of the bank and temporarily capped withdrawals at ₹ 25,000. As soon as the announcement was made at 6 p.m. on Tuesday, customers thronged the ATMs of the bank to withdraw cash from their account. However, “server down” was the message displayed in ATMs and customers could not withdraw the money.

On Wednesday, all the 18 branches in the district opened and customers thronged the branches. However, bank staff told them that the server was down and added that only locker service is available for the day. Disappointed customers waited for a few hours and left the branches as officials are not sure when the service will be restored. Most of the branches were located in rural areas and customers kept visiting the branches throughout the day.

Many businessmen said that they hold their current account with the branches and transactions were affected throughout the day. Customers, who hold savings accounts with the bank, wanted the withdrawal limit to be increased or east the restriction.

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