New Delhi: In many states including Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh and Telangana, the ATMs are either
not working or are out of cash. People all across India including Delhi are tweeting about it. The reports of cash crunch at ATMs have brought back memories of November 2016, when Prime Minister Narendra Modi, in a midnight announcement said old notes of Rs 500 and Rs 2000 will be scrapped.
Reports suggest officials of the finance ministry have held a meeting with the Reserve Bank of India (RBI) last Thursday, to take stock of the situation. Sources have told NDTV that RBI has directed banks with surplus cash to help other banks facing a shortage of funds. There is a mismatch of demand and supply of cash, say sources.
Here are the live updates on the cash crunch situation in various states:
Apr 17, 2018 17:38 (IST)
Chhattisgarh Chief Minister Raman Singh said his state has also been facing a cash crunch and assured that the situation would be resolved soon. "Like many other states, Chhattisgarh has also been affected by the cash crunch. The situation will be resolved as soon as possible," he said.
Apr 17, 2018 16:14 (IST)
Currency shortage was reported in Andhra Pradesh, Telangana and Madhya Pradesh in the past few weeks. There were also complaints of shortage in parts of Maharashtra, Gujarat and Bihar on Monday.
Apr 17, 2018 14:11 (IST)
Madhya Pradesh Chief Minister Shivraj Singh Chouhan has alleged a conspiracy behind Rs. 2,000 notes vanishing from the market. "Currency worth Rs. 15,00,000 crore was in circulation before demonetisation. Later, it increased to Rs. 16,50,000 crore. But notes of Rs. 2,000 are missing from the market," he said on Monday.
Apr 17, 2018 13:24 (IST)
SBI Chief Rajnish Kumar told news agency ANI that, One reason is that procurement season has come and the payment to farmers have gone up. In Maharashtra and Mumbai there is no cash crunch as far as SBI is concerned.
In the next week, things will start coming back to normalcy. There is a department which monitors situations like this. This is not new. RBI has been given an indent to increase the flow of Rs 500 notes in the system, he added.
Mr Kumar also said that, this is a temporary situation which is mainly due to geographical factors. There is one solution for it that a proper cash management system be maintained.
Apr 17, 2018 12:52 (IST)
Minister of State for Finance Shiv Pratap Shukla said the government has formed a committee to address the problem of currency shortage in certain states and the issue would be resolved in next 2-3 days.
"The Government has set up state-wise committee and RBI has also formed a committee to transfer currency from one state to other because for money transfer you need the permission of the RBI. It (the shortage) will be solved in 2-3 days," Mr Shukla said.