Cash Drying Up

The Covid-19 crisis has further crimped options for foreign-currency funding, worsening a credit crunch sparked by the collapse of shadow lender IL&FS in 2018.

Shashi Tharoor has some advice for his party. Mr Tharoor thinks that the cash-strapped Congress shouldn't be red-faced about its state of finances and should try crowdsourcing funds to fight the 2019 elections.

The government has speed up currency note printing and is running all its four presses round-the-clock, an officer said today amid ATMs running dry in many parts of the country. This week, the note printing presses have been minting out Rs 500 and Rs 200 notes without a break to meet an estimated Rs 70,000 crore of currency shortfallm, he said

The government attributed the cash crunch in ATMs of some states to the unusual spurt in currency demand. In the first 13 days of this month, the currency supply increased by Rs 45000 crores

In response to reports that ATMs in several states are running dry, Finance Minister Arun Jaitley today conceded a "temporary shortage in some areas" and said it was being "tackled quickly". The Reserve Bank of India said the shortage may be felt in some pockets due to logistical issues and clarified that there is sufficient cash in RBI vaults. Com...

Every evening, three generations of worried Angatt family women meet outside a half-built bungalow in Venniyur village in Kerala.

The government has no plans to introduce 1,000-rupee notes - abolished last year - but is focusing on ramping up production of 500-rupee and other lower denomination notes, Economic Affairs Secretary Shaktikanta Das tweeted today, scotching rumours that currency printing presses had started printing a new version of the Rs 1,000 note.

With their cash drying up and vehicles stranded at highways post the demonetisation of old Rs 500 and Rs 1,000 notes, a truckers body on Monday asked the government to facilitate online fund transfers for payments at state borders.

The United Nations gave its starkest warning yet on Friday that it would soon run out of cash to cope with the vast influx of Syrian refugees into Jordan and other neighbouring countries.

As growth slows down in India and revenues dry up, the government is increasingly looking at unexplained cash seizures to fund its developmental schemes. And at such a time, the Central Board of Direct Taxes is planning to approach the Finance Ministry for more secret funds to track down black money with the help of informers.

The Covid-19 crisis has further crimped options for foreign-currency funding, worsening a credit crunch sparked by the collapse of shadow lender IL&FS in 2018.

Shashi Tharoor has some advice for his party. Mr Tharoor thinks that the cash-strapped Congress shouldn't be red-faced about its state of finances and should try crowdsourcing funds to fight the 2019 elections.

The government has speed up currency note printing and is running all its four presses round-the-clock, an officer said today amid ATMs running dry in many parts of the country. This week, the note printing presses have been minting out Rs 500 and Rs 200 notes without a break to meet an estimated Rs 70,000 crore of currency shortfallm, he said

The government attributed the cash crunch in ATMs of some states to the unusual spurt in currency demand. In the first 13 days of this month, the currency supply increased by Rs 45000 crores

In response to reports that ATMs in several states are running dry, Finance Minister Arun Jaitley today conceded a "temporary shortage in some areas" and said it was being "tackled quickly". The Reserve Bank of India said the shortage may be felt in some pockets due to logistical issues and clarified that there is sufficient cash in RBI vaults. Com...

Every evening, three generations of worried Angatt family women meet outside a half-built bungalow in Venniyur village in Kerala.

The government has no plans to introduce 1,000-rupee notes - abolished last year - but is focusing on ramping up production of 500-rupee and other lower denomination notes, Economic Affairs Secretary Shaktikanta Das tweeted today, scotching rumours that currency printing presses had started printing a new version of the Rs 1,000 note.

With their cash drying up and vehicles stranded at highways post the demonetisation of old Rs 500 and Rs 1,000 notes, a truckers body on Monday asked the government to facilitate online fund transfers for payments at state borders.

The United Nations gave its starkest warning yet on Friday that it would soon run out of cash to cope with the vast influx of Syrian refugees into Jordan and other neighbouring countries.

As growth slows down in India and revenues dry up, the government is increasingly looking at unexplained cash seizures to fund its developmental schemes. And at such a time, the Central Board of Direct Taxes is planning to approach the Finance Ministry for more secret funds to track down black money with the help of informers.