Rush for cash withdrawals
Banks yesterday faced a huge number of cash withdrawals as the government declared a restriction on movement for seven days from today as part of effort to tackle the second wave of the coronavirus pandemic.
In some cases, automated teller machines (ATM) of different banks ran out of cash as clients tried to keep physical money at hand given the uncertainties during the period of the restrictions on movement.
The seven-day restriction on movement was declared on Saturday, a weekend in the country when banking activities are usually closed.
So people rushed to bank branches yesterday, the first workday of a week, to withdraw money in order to fulfill their cash requirements during the period of restrictions on movement, said Syed Mahbubur Rahman, managing director of Mutual Trust Bank.
"Some of our ATM booths have also faced a cash shortage and we have been compelled to inject required cash into the machines," he said.
The number of clients has doubled at the bank's branches as general people feel comfortable keeping adequate cash at hand in times of crisis, he said.
Md Asadullahil Galib, executive director of the South Bangla Agriculture and Commerce Bank (SBAC), said the presence of clients has increased twofold to threefold in their different branches.
For instance, SBAC Corporate Branch located in Motijheel has seen three times more clients than what was in regular times, he said.
A Sonali Bank official said their local office branch in Motijheel, which is the largest among all outlets of banks in the country, had also seen an unusual rush yesterday.
Clients withdrew and deposited cash in tandem as many of them sent money to their near and dear ones, he said.
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