ATMS GO CASHLESS, FIN MIN SAYS CASH CRUNCH TEMPORARY

ATMS
  • RAHUL GANDHI TARGETS PM

Bhupen Goswami

GUWAHATI : A couple of days after ATMs in various parts of Assam went ‘cashless’,

Union Finance Minister Arun Jaitley  Tuesday admitted to teller machines

going dry but said the cash crunch was “temporary” and that the matter

is being “tackled quickly”.

It was reported how people were facing the brunt with several ATMs in Assam

not dispensing enough cash ahead of Rongali Bihu.

The State Bank of India had reacted to the cash crunch, claiming that the issue

was being resolved and that it is feeding more cash in its teller machines.

several states hit on atm cash less

However, a similar cash crunch has hit several other states — Karnataka,

Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh,

Telangana and even Delhi — prompting Union Finance Minister Arun Jaitley

to come out with a clarification.

“Overall 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,” Jaitley said.

SBI chairman Rajnish Kumar is reported to have said the reports of ATMs

going cashless have been mainly reported from Andhra Pradesh, Telangana,

Karnataka and some parts of Bihar.

“We will increase the circulation of 500 rupee notes within 5 to 7 days,” he said.

The Department of Economic Affairs, however, said steps have already been taken to increase printing of 500 rupee notes.

“We print about 500 crore of Rs 500 notes per day.

We have taken steps to raise this production 5 times.

In the next couple of days, we’ll have supply of about 2500 crore of Rs 500 notes per day. In a month, supply would be about 70000-75000 crores,” Dept of Economic Affairs secretary SC Garg as saying.

Amid the developments, Congress president Rahul Gandhi hit out at Prime Minister Narendra Modi, accusing him of “destroying the country’s banking system”.

“Modiji destroyed the banking system.

Nirav Modi fled with Rs 30,000 crore and the Prime Minister didn’t utter a word.

We were forced to stand in queues as he snatched Rs 500-1,000 notes from our pockets and put them in Nirav Modi’s pocket,” ANI quoted the Congress president as saying in a tweet.

Leave a Reply