Netizen 24 IND: Demonetisation redux? ATMs again running dry across states amid cash crunch

Diposting oleh On 04.28

Demonetisation redux? ATMs again running dry across states amid cash crunch

Business Standard ATM crisis: Modi snatched our money, gave it to Nirav, says Rahul; updates

Several states are facing a cash shortage despite currency flows in the economy at the pre-demonetisation level

BS Web Team | New Delhi Last Updated at April 17, 2018 16:27 IST

http://mybs.in/2Vm9LBk


ATM Photo : ANI
  • ALSO READ

    Demonetisation redux? ATMs again running dry across states amid cash crunch Centre, RBI step in as cash crunch hobbles ATMs across various states ATMs run out of notes: Here's the reason behind the massive cash crunch ATM transactions may get costlier as operators seek hike in inter-bank fees

Severe cash crunch has been reported in several states of India â€" Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh and Telangana, and automated teller machines (ATMs) in these regions are running dry. People are facing a huge monetary crisis, with a majority of ATMs running out of cash. In Bihar's Patna, several ATMs have gone 'out of service' causing inconvenience to the locals. Taking stock of the situation, Union Finance Minister Arun Jaitley on Tuesday said the temporary shortage of currency caused by a sudden and unusual increase in some areas was being tackled. "We have reviewed the currency situation in the country; there is more than adequate currency circulation and it is available with the banks... a temporary shortage caused by the sudden and unusual increase in some areas is being tackled," Jaitley said. Congress President Rahul Gandhi slammed PM Modi for the cash crunch, saying: "Modi has destroyed the banking system." Rahul Gandhi said, "Nirav Modi fled with Rs 300 billion (Rs 30,000 crore) and Prime Minister didn't utter a word. We were forced to stand in queues as he snatched Rs 500 and Rs 1,000 notes from our pockets and put in Nirav Modi's pocket." The Congress chief also to ok a dig at BJP-led Central government's slogan 'Achhe Din' and questioned as to when 'these goods days' were going to come. Not only Rahul Gandhi, terming the situation as "financial emergency", Trinamool Congress MP Derek O'Brien said: "PM Modi had said that everything will be fine in 50 days, but it has now been more than 1.5 years, and there is still a cash crunch." Here are the top developments in the crisis caused by a sudden shortage of cash across several states and what the government is saying: 1. Life gets miserable for many Indians, especially traders: Despite the currency flow in the economy going back to the pre-demonetisation level, ATMs are going dry making life miserable for many residents, especially traders. Many are running from one ATM to another in search of currency notes. ALSO READ: Demonetisation redux? ATMs again running dry across states amid cash crunch

Have reviewed the currency situation in the country. Over all there is more than adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ in some areas is being tackled quickly.

â€" Arun Jaitley (@arunjaitley) April 17, 2018 2.

Some ATMs not dispensing more than Rs 5,000: Only one ATM at State Bank of India’s branch had cash, but the machine was dispensing only up to Rs 5000 cash and that too only in the form of Rs 100 currency notes, according to The Times of India report.

The people in Delhi, on the other hand, said that most of the ATMs are dispensing only Rs 500 notes.

3. Hyderabad, Varanasi office-goers face troubles: In Hyderabad, office goers have told news agency ANI, that they have been unable to withdraw cash from ATMs in several parts of the city since yesterday. There are reports from Varanasi as well of people saying there is no cash at ATMs since yesterday, said TOI report.

However, people in Madhya Pradesh claimed that they have been facing a cash crunch for the last two weeks.

4. Govt's meeting with RBI on cash shortage across states: The finance ministry held a meeting with the Reserve Bank of India (RBI), banks, and state government officials on Thursday to take stock of cash availability after receiving complaints of the dearth of money in some states. The non-release of funds by the Centre is being cited as one reason for the cash crunch. ALSO READ: ATMs run out of notes: Here's the reason behind the massive cash crunch A recent analysis by the RBI to the finance ministry found that the rate of cash withdrawal was far more than the cash deposits in banks. 5. RBI not disbursing enough cash? The cash shortage, according to informed sources in the banking sector, has been there for almost a fortnight as less amounts of cash was received from the RBI. The cash crunch is believed to be right from the level of currency chest, from where the cash is disbursed to various bank branches across the state. ALSO READ: Centre, RBI step in as cash crunch hobbles ATMs across various states 6. March salaries of over 22,000 govt employees held up: of More than 22,000 government employees are yet to get their salary for the month of March, even as the Finance Department authorities are working hard to fix the glitch. 7. Madhya Pradesh CM cries conspiracy: Madhya Pradesh Chief Minister Shivraj Singh Chouhan today claimed that Rs 2,000 notes were vanishing from the market, and alleged that there was a "conspiracy" behind it, said an NDTV report. He was referring to news reports of ATMs running out of cash at some places in the state. Shukl a said that the problem will be resolved within three working days as the government has about Rs 1,25,000 crores of cash currency. First Published: Tue, April 17 2018. 16:27 IST
  • Read More On
  • | | | | | | | | | | | | | | | |

PREVIOUS STORY

NEXT STORY

Advertisements
  • Business Standard book for IBPS: 3000 GK Questions: GST, Budget 2017, Demonetisation
  • Business Standard Premium - Access best of our content across devices
';if(neverShowNotificaitonCookie==''||neverShowNotificaitonCookie=='undefined'||neverShowNotificaitonCookie==null){var lastReminderCookie=getCookie('_ler'+loginParamO bj.uId);if((lastReminderCookie=="")||(lastReminderCookie=="undefined")||(lastReminderCookie==null)){$('body').prepend(notificationBox);}else{if(lastReminderCookie');$("#loading_invoice").show();var _id=this.id;$.ajax({"type":"POST","url":"http://api.business-standard.com/user/process-api/generate-user-invoice","data":{"request_id":loginParamObj.uId},"success":function(data){$("#generate_invoice").text('click here');resopnseObject=JSON.parse(data);if(resopnseObject.status=='success'){if(resopnseObject.tinyUrl!=""||resopnseObject.tinyUrl!=null){$("#notification_message").html('Your invoice has been sucessfully generated.
Please click here to pay ');window.open(resopnseObject.tinyUrl,"_blank");if($("#generate_invoice_manage").length>0){location.reload();}generateInvoice2=function(){};}else{alert("Your invoice has been successfully generated. Please check your mail.");generateInvoice2=function(){alert("Your invoice has been successfully generated. Please check your mail.");};}}else{alert("Your request has been registered by us. We will contact you soon");generateInvoice2=function(){alert("Your request has been registered by us. We will contact you soon");};remindNotificationLater(loginParamObj.uId);}$("#loading_invoice").hide();}});return false;}}}}}});function remindNotificationLater(userId){var currentTimestamp=Math.floor(Date.now()/1000);var tempTime=new Date(currentTimestamp*1000);var lastExpNotification=Math.floor(tempTime.setMinutes(tempTime.getMinutes()+60)/1000);var d=new Da te();d.setTime(d.getTime()+(60*60*1000));var expires="expires="+d.toUTCString();document.cookie="_ler"+userId+"="+lastExpNotification+"; "+expires+"; path=/";$('

Next
« Prev Post
Previous
Next Post »