Automated Teller Machines (ATMs) in various state have been cashless and the situation of demonetisation looks hitting back.
These are the mostly affected states:
Gujarat, Uttar Pradesh, Madhya Pradesh, Bihar, Andhra Pradesh, Manipur and Telangana are the states where reports of shortage of cash in ATMs are rampant.
This is what RBI says:
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.
Jaitley assured customers that the crisis will be resolved:
Commenting on the cash crunch, Finance Minister Arun Jaitley assured hassled customers that the government will resolve the problem ‘quickly’. Minister of State (MoS) for Finance SP Shukla said the Centre needs three days to fix the problem. Separately, State Bank of India (SBI) Chairman Rajnish Kumar told CNBC-TV18 that there is sufficient cash in the system.
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.
-Finance Minister Arun Jaitley on Twitter
Communist Party of India member Sitaram Yechury too took to twitter to express his anger. “ATMs were empty in November 2016. ATMs are empty now. And the only party flush with cash is the BJP: the people suffer.” he said in a tweet.
Earlier, MoS for Finance Shiv Pratap Shukla said: “We’ve cash currency of Rs 1,25,000 crore right now. There is one problem that some states have less currency and others have more. Government has formed state-wise committee and RBI also formed committee to transfer currency from one state to other. It will be done in three days.”