Published: Tue, April 17, 2018
Money | By Armando Alvarado

ATMs running dry again? FM Jaitley steps in to soothe people's nerves

ATMs running dry again? FM Jaitley steps in to soothe people's nerves

"Over all, there is more than adequate currency in circulation and also available with the Banks", Jaitley said.

"We've cash currency of Rs 1,25,000 cr right now".

As per latest information, the finance ministry has scheduled a meeting with Reserve Bank of India officials to take stock of the situation.

Amid news reports of a cash crunch from some parts of the country, the government on Tuesday said there is adequate currency in circulation and it is addressing a "temporary shortage" in some areas. Taking cognizance to the matter, Mos Finance SP Shukla said that government is aware of the issue and steady steps are taken by the Government.

Commenting on the reports that banks are running short of cash in many states such as Andhra Pradesh, Uttar Pradesh, Bihar and Madhya Pradesh, Jaitley said he has reviewed the currency situation. Complaints of cash crunch have been reported from semi-urban and rural regions of the states.

Referring to reports of ATMs running out of cash at some places in the state, he said: "The currency worth Rs. 15,00,000 crore was in circulation before demonetisation". We have visited several ATMs today as well, to no avail, ' people in Bhopal said. The situation has been the same since 15 days.

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An alarmed chief minister of Madhya Pradesh, Shivraj Singh Chouhan, was quoted by ANI, "16.5 lakh crore notes were printed & circulated in markets, but where are Rs.2000 notes going?"

People in Delhi told ANI that the few ATMs which were dispensing cash had only Rs 500 notes. The NSUI workers showed protest against Acche Din claims of Bhartiya Janata Party led Union Government.

More than a year after Prime Minister Narendra Modi sensationally announced the note ban, people have begun bear the brunt of fresh cash crunch in three big states once again.

Citing RBI data, the Times of India reported that currency in circulation as on April 6 was Rs 18.17 lakh crore, which is close to the number at the time of demonetisation. "Banks have been advised to optimise cash flow at ATMs well", a senior finance ministry official told the newspaper. "The government will act tough on this", he added. This is a conspiracy to create problems.

"We have visited five-six ATMs since morning". ATMs in other areas like the posh Hazratganj, Indira Nagar and Shahnajaf Road have been run dry for the last two days.

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