Why A number of States Are Complaining Of A Money Crunch, And What Is Inflicting It

Cash Shortage LIVE: Several States Complain Of A Cash Crunch, Residents Worried

Money crunch: The ATMs are both not working or are out of money.

New Delhi:  In lots of states together with Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh and Telangana, the ATMs are both not working or are out of money. Individuals all throughout India together with Delhi are tweeting about it. The stories of money crunch at ATMs have introduced again reminiscences of November 2016, when Prime Minister Narendra Modi, in a midnight announcement stated previous notes of Rs 500 and Rs 2000 can be scrapped.

Experiences counsel officers of the finance ministry have held a gathering with the Reserve Financial institution of India (RBI) final Thursday, to take inventory of the scenario. Sources have advised NDTV that RBI has directed banks with surplus money to assist different banks going through a scarcity of funds. There’s a mismatch of demand and provide of money, say sources.

Listed below are the dwell updates of the Money crunch scenario in numerous states:

Finance Minister Arun Jaitley right this moment stated there’s “greater than sufficient” forex in circulation and the non permanent scarcity in sure states is being “tackled shortly”.

Mr Jaitley in a tweet stated that he has reviewed the forex scenario within the nation.

Congress and the Left took potshots on the authorities; whereas the Congress questioned whether or not it’s a “gross mismanagement or a deliberate transfer”, Sitaram Yechury tweeted ATMs are dry however “solely get together flush with money is the BJP.” 

Many ATMs in Patna are additionally out of service.

In Gujarat’s Vadodara, folks complained concerning the inconvenience resulting from lack of forex in ATMs.

The scenario is identical in Delhi. Many of the ATMs aren’t allotting money, those that are allotting, have solely Rs 500 notes.

The scenario is identical in Madhya Pradesh. Individuals in Bhopal are additionally going through the identical problem since previous 15 days and are unable to withdraw money.

In Varanasi folks stated they do not know what and the place the issue is however the frequent man is going through loads of problem due to the cash not being alleviate in ATMs. Some have been infact visiting ATMs since morning as they should pay the admission charges of youngsters and buy groceries and greens.

In Hyderabad folks stated, they’ve been unable to withdraw money from ATMs. The have been attempting since yesterday and the scenario is identical each the place.

  • There are stories of non- availability of money at ATMs in a number of states
  • In Hyderabad, Varanasi and Bhopal folks say no money at ATMs
  • Experiences of money crunch at ATMs have introduced again reminiscences of November 2016, when Prime Minister Narendra Modi, in a midnight announcement stated previous notes can be scrapped.


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