New Delhi: Reviving bitter memories of cash crunch pangs due to demonetisation in November 2016, ATMs in several states have gone dry, indicate reports. ANI on Tuesday quoted people as saying in Bhopal that they have been facing cash crunch for the last 15 days as the ATMs are not dispensing currency notes.Read: Modiji destroyed the banking system, says Rahul
Other states, including Gujarat, Uttar Pradesh, Bihar, Andhra Pradesh, Manipur and Telangana, have also reported shortage of cash at ATMs. A stock-taking analysis submitted by the Reserve Bank of India (RBI) found that the rate of cash withdrawal was much higher than the rate of cash deposits in Andhra Pradesh, Bihar, Karnataka, Maharashtra, Rajasthan, Uttar Pradesh, Madhya Pradesh, and Telangana, among other states. Complaints of cash crunch have been reported from semi-urban and rural regions of the states.
Telangana: People in Hyderabad say, 'We have been unable to withdraw cash from ATMs as the kiosks (ATM Kiosk), in several parts of the city, have run out of cash. We have visited several ATMs since yesterday but it is the situation everywhere'. pic.twitter.com/wRMS3jgjyP— ANI (@ANI) April 17, 2018
People in Varanasi say, 'We do not know what or where the problem is but the common man is facing difficulty as the ATM Kiosks are not dispensing cash. We have visited 5-6 ATMs since morning. We need to pay for the admission of children and purchase groceries & vegetables'. pic.twitter.com/8eSGXU0NtU— ANI UP (@ANINewsUP) April 17, 2018
The Centre on Tuesday admitted to the cash crunch and blamed it on uneven distribution of currency by the RBI across states. “There is an issue of disparity. We have cash currency of Rs 1,25,000 crore right now. Some states have less currency and the others have more. Government has formed state-wise committee and RBI has also formed a committee to transfer currency from one state to the other. In two-three days, this problem will be resolved,” Minister of State in Finance Shiv Pratap Shukla told TV channels. Earlier, finance ministry officials had reportedly met with the RBI officials to take stock of the situation. Meanwhile, the opposition Congress has asked if the cash crunch has taken place because of “deliberate move” of the government. “News reports say that ATMs around the country are running of out cash. Is it just gross mismanagement by the Modi Govt or is this a deliberate move?” the party tweeted from its official handle.
#MadhyaPradesh: People in Bhopal say 'We are facing a cash crunch. ATMs are not dispensing cash. The situation has been the same since 15 days. We have visited several ATMs today as well, to no avail.' pic.twitter.com/VwtR3s7flL— ANI (@ANI) April 17, 2018
Finance Minister Arun Jaitley took note of the crisis and said on Twitter, "overall there is more than adequate currency in circulation...the temporary shortage is caused by sudden and unusual increase in some areas."
News reports say that ATMs around the country are running of out cash. Is it just gross mismanagement by the Modi Govt or is this a deliberate move? #IndiaSpeaks— Congress (@INCIndia) April 17, 2018
Even BJP's own CM, Madhya Pradesh's Shivraj Singh Chouhan, alleged a “conspiracy” behind the disappearance of Rs 2000 currency notes. At a farmers’ convention on Monday, the chief minister said that Rs 2000 currency notes are missing from the market even as the notes in circulation are more than pre-demonetisation. “The currency worth Rs 15,00,000 crore was in circulation before demonetisation. After this exercise (demonetisation), the currency in circulation increased to Rs 16,50,000 crore. But notes of Rs 2,000 are missing from the market,” Chouhan was quoted as saying by PTI. “Where these notes of Rs 2,000 denomination are going, who are keeping them out of circulation? Who are the persons creating shortfall of cash? This is a conspiracy to create problems. The government will act tough on this,” he added.
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.— Arun Jaitley (@arunjaitley) April 17, 2018