ARAFA IN Kashmir: Over 600 Crore withdrawn from ATMs

SRINAGAR: Ahead of Eid-ul-Fitr, J&K Bank’s Automated Teller Machines across Kashmir doled out almost Rs 600 crore during last three days which is 50 per cent more than the withdrawals during last Eid.

As per figures provided to KNO by the J&K Bank, more than Rs 600 crore were withdrawn from its ATMs through 11 lakh transactions from June 2 June 4 ahead of this Eid which is double than what was withdrawn on Eid-ul-Adha last year.

The ATM withdrawals this Eid is almost 50 per cent more than Eid-ul-Adha last year and the growth is clear, said an official of the bank.

Almost Rs 300 crore were withdrawn by consumers across Kashmir from Automated Teller Machines ( ATMs) of J&K Bank during the last three days in the run up to Eid-ul-Adha in 2018 .

According to a senior J&K bank official, almost Rs 300 crore were withdrawn fromits ATMs on August 19, 20,21 last year which is 50 per cent less than what was withdrawn on June 2, 3, 4 this year before Eid .”

The amount last Eid was withdrawn through 5.61 lakh transactions at more than 694 ATMs across the Valley while as almost 11 lakh withdrawals have been seen this year on 3 days,” he told KNO

A bank official said reason of the higher volume of transactions is due to a wider ATM network acrossthe Valley .He said Eid falling around the same time as employees salary getting credited was also areason for the increase.

“The ATM network has grown by leaps and bounds and the high volume in ATM withdrawals is a clear indication of that ” he said.(KNO)

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