ATMs may run dry on shortage of guards this festival season

There may be cash crunch at ATMs this festival season on account of shortage of armed staff in private security agencies that provide logistics services to banks. The number of armed security guards in cash handling agencies have come down to one-third of what it was 6 months ago hitting the logistics operations, as per an industry estimate. Besides, many of them are expected to go on leave during the festivals - Navratri, Dussehra, Diwali and so on - adding to the woes of cash logistics firms. A number of ATMs are now being loaded with cash every fifth day, instead of every two days earlier, say industry officials. "There could be cash crunh in ATMs, due to shortage of armed guards at various companies. The increase in loading time to once every 5 days, is an indicator to that." said an official at a logistics company.

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