Payday Turns Into Mayday: Social Media Talks About Cash Crunch

The month-end payday has not translated to good news for employees and pensioners.

Queues outside banks have increased since yesterday owing to month-end payday. (Photo: IANS/The Quint)

Long queues outside banks and ATMs across the country have seen a resurgence since 30 November, as employees and pensioners are scrambling to withdraw their monthly salaries which have been recently transferred to their accounts.

The month-end payday - the first after the Modi government’s demonetisation policy - has not translated to good news for the people as many are finding it difficult to withdraw the requisite amounts owing to an acute cash-shortage.

Though the RBI had expressed its preparedness to meet the heightened cash demand on payday, reports have suggested that banks have not received adequate currency notes, and are therefore resorting to cash rationing.

Not surprisingly, people have taken to social media to talk about these resurgent inconveniences. In fact, Payday is being equated with mayday:

(Source: Hindustan Times)

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