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techkenyot.com July 23, 2018


ATMs run out of cash: What Arun Jaitley has to say

17 April 2018, 10:26 | Hattie Nash

ATMs run out of cash: What Arun Jaitley has to say

Subhash Chandra Garg

However, Minister of State for Finance SP Shukla has assured that there is no cash crunch and said government and RBI have formed committee to transfer currency where there is shortage. Expressing resentment on the banking system the NSUI staged demonstration by garlanding the ATM machines while also expressed concern on growing problems in banking due to shortage of cash in banks.Eminent those who staged protest includes Sachin Rajak, Moonesh Sonkar, Ashutosh Singh, Karam Tamsetwar, Mohd Ali, Shubham Yadav, Bengo, Yogesh Chakrabarty, Gaurv Abindra, Sumit Khateek, Rahil Pandey, Sanjay Vishwakarma and others. "This is a conspiracy to create problems & state govt will take strict action on it, we are in touch with centre also".

The government, meanwhile, has been trying to encourage people to adopt cashless payment methods like debit cards, UPI and Aadhaar-Enabled Payments, but has had limited success so far. "In Gujarat, the currency chests were not getting adequate supply of cash from the RBI", said an executive director of a public sector bank.

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People across the country are facing problems to take out cash from the ATMs. And the only party flush with cash is the BJP: "the people suffer", he tweeted. Many times, bigger currency notes like Rs 2000 are missing.

Taking cognizance to the cash shortage issue Finance Minister Arun Jaitley posted a tweet saying the government has reviewed the currency situation in the country.

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"We held a meeting with the RBI officials, banks, and states today (Thursday)". The situation has been the same since 15 days. We need to pay for the admission of children and purchase groceries and vegetables, ' said a common man from Varanasi. ATMs are not dispensing cash.

He was referring to news reports of ATMs running out of money at some places in the state. The cash shortage faced by banks was also acknowledged by deputy chief minister Nitin Patel last week, while he was in Surat. "We are facing a cash crunch". After the demonetisation exercise, the currency in circulation increased to Rs. 16,50,000 crore.

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People in Hyderabad told news Agency ANI, "We have been unable to withdraw cash from ATMs as the kiosks (ATM Kiosk), in several parts of the city, have run out of cash".



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