Dry ATMs: Rahul takes a dig at govt

Cash crunch

Finance Minister, Arun Jaitley, however, said that more than adequate currency is in circulation.

The Reserve Bank of India, the country's central bank, insisted late Tuesday that it had "sufficient cash" in its vaults but said it was increasing the printing of rupee notes at its presses around the country.

According to the latest Reserve Bank of India (RBI), cash in circulation as on April 06, 2018 is Rs18.4lakh crore which is very close to currency in circulation pre-demonetization which was Rs17.97lakh crore.

According to reports, officials of the Finance Ministry held a meeting with the Reserve Bank of India to take stock of the situation. The problem will be resolved within next 3 day. while Chhattisgarh Chief Minister Raman Singh accepted the cash crises in state and the situation will normal soon. "In the first 13 days of the current month, currency supply increased by Rs 45,000 crore". The statement comes after reports of currency shortage in at least six states - Gujarat, Eastern Mahashtra, Madhya Pradesh, Bihar, Andhra Pradesh and Telangana.

Many ATMs across Lucknow, the capital of Uttar Pradesh, have no cash including two right next to the RBI office in Gomti Nagar.

"Had we been allowed to speak in Parliament on Rafael (jets) issue, Nirav Modi matter, the Prime Minister won't be able to stand", he said.

"We print about 500 crores of Rs 500 notes per day".

"There is no need for supplying Rs 2,000 notes as it is in over supply". Karnataka facing elections next month has been partly spared from the cash crunch.

Jose Mourinho Says Manchester United 'Deservedly Punished' After West Brom Loss
That didn't make me feel super happy and, in my opinion, it affected some of the people that were too happy. Mourinho accused his players of taking their eye off the ball after the City game.

Mamata Banerjee, chief minister of West Bengal, tweeted: "Is there a Financial Emergency going on in the country?"

Senior Congress leader P Chidambaram also slammed the government for the cash crunch, saying cash supply had been "arbitrarily reduced". A local in Hyderabad said, "We have been unable to withdraw cash from ATMs as the ATM Kiosk, in several parts of the city, have run out of cash". Over all there is more than adequate currency in circulation and also available with the banks.

Also, he mentioned that some states may be having more currency while some may be having less currency and that the sudden withdrawal may be since people may have increase the cash withdrawals and so some of the states may have less currency than the others.

Reacting to the cash crunch situation, Finance Minister Arun Jaitley today said that the shortage is temporary and is being tackled quickly.

Addressing a farmers' convention, Chouhan said, "The currency worth Rs 15,00,000 crore was in circulation before demonetisation".

While it is hard to trace any specific reason for such massive cash withdrawals this year, analysts say that concerns over the health of India's banking system has also triggered savers to withdraw cash.

People in Delhi say "We are facing the cash crunch". He added that the shortage was "being tackled quickly".

Related:

Comments

Latest news

Miranda Lambert's ACM Awards Guitar Had an Inscription From Loretta Lynn
The show opened with with a solemn tribute to the victims of last year's Route 91 Harvest Festival shooting in Las Vegas . He said, "The more time that goes by, I guess, the closer you'd be getting to that".

India to grow at 7.4 per cent in 2018
According to the IMF's World Economic Outlook (WEO), the country's economic growth is expected to be 7.8 per cent in 2019. The IMF has also strongly criticised the approach of the Trump administration to trade deficits.

Jim Carrey sets sights on Sean Hannity's scandal in latest drawing
Hannity articulated his relationship with Cohen, denying a traditional client/lawyer relationship. And he was not about to let the news about his Cohen connection change that.

Vladimir Putin condemns US-led airstrikes on Syria
The Washington Post editorial board was of the opinion that "Chemical attacks should be answered with cruise missiles". Trump, she said, has "talked to our allies and said they need to step up more ".

Narendra Modi Sweden visit: 10 things on PM's agenda
While returning from Britain on April 20, he will stop over in Germany where he will a meet German Chancellor Angela Merkel. Prime Minister Modi particularly highlighted the importance India attaches to the cooperation in defence sector.

Armenia opposition chief urges new protests, strike
The election of Mr Sargsyan to the presidency in 2008 was met with demonstrations, with protesters alleging vote rigging. Pashinian said the closure of the streets leading to the parliament should start already before midnight.

Rahul slams Modi's deafening silence on rape horror, says India is waiting
Earlier, on Thursday, BJP MP Lal Singh said, "Those responsible for rape and murder of the 8-year-old in Kathua should be nabbed". The incident came to light when she attempted to immolate herself outside Chief Minister Yogi Adityanth's residence in Lucknow.

Djokovic off to blistering start in Monte Carlo
The Mallorcan is 63-4 win-loss in Monte Carlo and shares the record of most Masters 1000 titles won (30) with Novak Djokovic . The Serb had a small surgery on his right elbow to recover from an injury that he says has troubled him for two years now.

Pence praises Peru's stand on Venezuelan crisis
The summit in Peru is a once-every-three-years meeting of leaders from across Latin America , the U.S. and Canada. As opposed to past looks at global summits, the vice president needed to dip to the crowded agenda on small note.

Daniel Ricciardo Stuns Grid, Wins Formula One Race in China
I could tell that obviously we had the advantage coming in at the safety vehicle and having those softs. "That is racing. Ferrari's Vettel still leads the season standings with 54 points after three races.

Missing African Athletes In Australia Rises To 13
Cameroon officials are still working with the Australian Border Force to locate their eight missing athletes. CORRECTION: An earlier version of this story reported that the Cameroon team consisted of 24 athletes.

Here's when the best chance of severe weather will be on Sunday
Temperatures Sunday morning will drop into the mid-40s with wind chills likely threatening the upper 30s in a few spots. Some thunderstorms may pop up early Sunday afternoon in inland spots along the fast-moving sea breeze.

US President Donald Trump pondering missile attack on Syria
Theresa May is reportedly adamant that the United Kingdom plays an equal part in any military action against Syria . "There has been no decision to take military action at this point".

'Mission Accomplished' in Syria, Trump declares on Twitter
Wednesday: Russia's Foreign Minister Sergei Lavrov said Russian military inspectors found no evidence of a chemical attack. Any US strike would probably involve the Navy, given the risk to aircraft from Russian and Syrian air defenses.

What Sergio Ramos tweeted when James Rodriguez joined Bayern Munich in 2017
They will face Real Madrid in the Champions League semi-finals and meet Hamburg in the last four of the German Cup. The Frankfurt coach said his move would have "no influence" on the team's remaining games of the season.

Other news