A while ago, I was walking in our area and as expected, there are huge queues to exchange / deposit / draw money from banks. We have 4 banks on Kaggadasapura Main road (SBI, Andhra Bank, Canara Bank and Karnataka Bank) and situation is same at all banks. At the same time, I saw 3 ATMs out of service (not sure about others).
I think banks should ensure ATMs are functional so that some people will utilise them for their immediate needs.
What we, citizens, can do is – we do have time until 31st December, 2016 to exchange / deposit INR 500 and INR 1000 (that are withdrawn by the Government). So why hurry? just draw money of smaller denominations that would help you immediately to manage daily living; One can withdraw INR 2000 per day and INR 4000 per week. Now-a-days, most of the merchants do accept credit / debit cards. So transact as much as possible using cards and avoid cash transactions. This will be safe too. After a couple of weeks or so, you can visit banks and exchange / deposit existing currency. This way, we are indirectly helping bank employees too. If there is huge crowd, it will be difficult for them to manage as well.
Next, all merchants should accept cards. This morning, I have visited Madurai Idli Shop in Kaggadasapura, where they charge INR 50 for Dosa; which means their prices are a bit high; but they only accept cash. Why is that? when a hotel is decorated so well and charging a huge price, they must accept payments by all means.
Have smoother transactions!