Cash-crunch knocks again: 5 states still have dry ATMs

Adequate currency in circulation, shortage temporary: FM Arun Jaitley

Reacting on the cash crunch situation in the country, the Finance Minister Arun Jaitley on Tuesday said that the shortage is temporary and is being tackled quickly.

The cash crunch is back. Government has formed state-wise committee and RBI has also formed a committee to transfer currency from one state to the other.

The government has assured that the issue will be resolved soon.

They point out that a total of Rs 18.3 lakh cr worth of currency notes are in circulation in India at present, which is more than the Rs 17.8 lakh cr worth of notes that was there just before demonetization. "This is a conspiracy to create problems & state govt will take strict action on it, we are in touch with centre also", said MP CM Shivraj Singh Chouhan to ANI. "We are facing the cash crunch".

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In Gujarat's Vadodara, people complained about the inconvenience due to lack of currency in ATMs. "We are facing difficulty, don't know what to do". Many times, bigger currency notes like Rs 2000 are missing. The Finance Ministry, however, said there was enough cash currency in circulation and the situation will be brought under control in three days. We have visited several ATMs today as well, to no avail, ' people in Bhopal said. "We need to pay for the admission of children and purchase groceries and vegetables", a resident of Varanasi in Uttar Pradesh was quoted by ANI as saying.

He was referring to news reports of ATMs running out of money at some places in the state. "Banks have been advised to optimize cash flow at ATMs well". Stating that this is a phenomenon experienced by "all banks" since November 2017, Purnima said, "We are unable to refill ATMs because people are not depositing in banks". However, as several ATMs ran out of cash on Sunday, people ended up running from one ATM to another, to make cash withdrawals and their expenses. "We are facing difficulty, don't know what to do".

The Congress party also slammed the government for the cash crunch, questioning if the cash shortage was deliberate. After the demonetisation exercise, the currency in circulation increased to Rs. 16,50,000 crore.

People from Bhopal in Madhya Pradesh claimed that the situation had been prevailing for the past 15 days. In some states, the recalibration of ATM machines to dispense 200 rupee currency notes is yet to be finished.

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