Demonitization: All eyes on Dec 1 st

Ever since the ban on higher denomination currency notes on November 8th, millions of Indians across the country have been rattled by a severe cash crunch in banks and ATMs across the country. Very soon, a much bigger threat is looming over the banks.With less or no cash in the vaults, most banks have started feeling the jitters of December 1st, the salary day. However, the RBI has assured the banks saying that it has already equipped the ATMs with enough deposits of cash and also recalibrated the softwares.But, noticing the way RBI has utterly failed to handle the aftereffects of demonetization over the past couple of weeks, employees are in no mood to believe it. The situation has worsened with most of the banks displaying 'out of cash' notices.A majority of people had enough cash in hand for expenses by November 8th when the ban was announced. However, people's monetary resources have dried up already and all are now panicking about the cash being available in the banks and ATMs from December 1st.