ATMs across the country go dry, Arun Jaitley steps in to put fears of new crisis in Rest
From last few weeks, several areas in Andhra Pradesh and Telangana have reported shortage of currency and now reports started coming from eastern Maharashtra, Bihar and Gujarat too.
People witnessed Downed shutters, ‘No cash’ and ‘Out of service’ notices plastered across several ATMs in Hyderabad, Visakhapatnam, Vijayawada and rural Andhra Pradesh and Telangana and the banks
witnessed long queues for withdrawals from saving bank accounts
Finance Minister Arun jaitley said there is a Temporary shortage due to ‘sudden and unusual withdrawals’ and he blamed ‘sudden and unusual increase’ in cash withdrawal for the situation. He also said there is adequate currency in the circulation however the problem is some states have less currency and others have more
As per SP Shukla, Mos Finance, A panel has been formed to overcome this situation and the matter will be fixed in three days
Sources in the finance ministry said the cash crunch was not alarming and there was no need to panic