Cash crunch likely to take turn for better, ATM withdrawal limit may be raised from Rs 2,500

As India enters the third week of demonetisation, industry and consumers can expect some good news, as the prime minister said the more than Rs 5 lakh crore that had come to the banks in the past few days would be used to bring down lending rates and revive economic activities. But long queues outside banks are unlikely to disappear, though harried customers may get a chance to withdraw a little more cash from ATMs.   Stock Market Astrology Tips



"Over Rs 5 lakh crore deposited with banks (since the announcement of demonetisation on November 8) is not going to be kept idle," PM Narendra Modisaid at a BJP rally in Agra. "Banks will have to extend loans for all sorts of economic enterprises... for which they will have to bring down interest rates."

Bankers said the supply of Rs 500 notes would go up exchanged.








"Next week should be much better. ATMs are replenished regularly and are not running out of cash which should give comfort to customers. The supply of notes (from the central bank) is in plenty but the point is that people should start spending," Arundhati Bhattacharya, chairman of State Bank of India, told ET. "Next week, we should also see good supply of Rs 500 notes which will ease the situation." She said more bank branches will deploy point of sale machines at their branches as it would allow people to swipe their cards and withdraw cash instantly.    Intraday Trading Tips
 







During the next few weeks, banks are also expected to go on a publicity drive to sensitise customers on digital channels for doing banking transactions, such as using debit card on point of sale machines to withdraw money and mobile banking to pay bills.   Future & Option Trading Tips