Several States Complain Of A Cash Crunch, Residents Worried

Subhash Chandra Garg

Several States Complain Of A Cash Crunch, Residents Worried

When the cash shortfall was reported from Andhra Pradesh and Telangana in March, it was attributed by some to a misunderstanding of the Financial Resolution and Deposit Insurance Bill, which had a "bail in" clause where depositors would bear a portion of any losses. The Government has formed a state-wise committee and RBI also formed a committee to transfer currency from one state to other. When we're not getting currency from the, how can we put cash in ATMs or make clearances. This is a conspiracy to create problems. And the only party flush with cash is the BJP: "the people suffer".

In Gujarat's Vadodara, people complained about the inconvenience due to lack of currency in ATMs.

Despite the currency flow going back to the pre-demonetisation levels, people are facing difficulty in withdrawing cash from ATMs.

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People in Delhi told ANI that the few ATMs which were dispensing cash had only Rs 500 notes.

His junior minister SP Shukla told news agency ANI that there is a "problem that some states have less currency and others have more", promising that it will be solved in three days with both the government and the Reserve Bank of India working to "transfer currency from one state to other".

"We have visited five-six ATMs since morning. The temporary shortage caused by "sudden and unusual increase" in some areas is being tackled quickly", finance minister Arun Jaitley wrote on micro blogging site Twitter. "We are facing difficulty, don't know what to do", they said. ATMs are not dispensing cash. "We need to pay for the admission of children and purchase groceries & vegetables".

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He was referring to news reports of ATMs running out of money at some places in the state. The ministry officials also held consultations with state officials and bank heads in the wake of shortage of cash. "But notes of Rs. 2,000 are missing from the market".

People of various cities including Delhi, Varanasi, Bhopal and Hyderabad are struggling as ATMs are running dry, creating a situation of a severe cash crunch.

Commenting on the situation, J N Singh, chief secretary, said, "We understand the urgency faced by the banks and are in constant touch with the RBI as well as the central government to resolve the issue".

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In Madhya Pradesh, residents of Bhopal say that the cash crunch is troubling them for the past 15 days.

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