All ATMs Are Cash Less In Many States
All ATMs Are Cash Less or not working in the current base In Many States, including Rajasthan, Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, Karnataka, Maharashtra, and Telangana. Cash Unavailability At ATMs In Many States and many of us are asking about the enormous thing of not getting cash from any ATMs. After the Demonetization in November 2016, this is the first time when this type of such financial crunch occurs in India.
According to reports, the Finance Ministry has held a meeting with the Reserve Bank Of India ( RBI ) last Thursday, to have a review of the situation. The Finance Minister Arun Jaitley stated, ” There is enough currency in circulation, The temporary Cash Unavailability At ATMs In Many States is caused by the sudden and unusual increase in some areas.”
Cash Unavailability At ATMs In Many States
I have reviewed the current currency situation in India. overall there is an adequate amount of currency in circulation mode and even the Banks too have enough availability of Cash. The Temporary Cash Unavailability At ATMs In Many States is caused by ‘ sudden and unusual increase ‘, moreover in some areas, this problem is tackled quickly.
Let Have a look what Finance Minister Arun Jaitley captioned on his Twitter Account
Have reviewed the currency situation in the country. Over all 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.
— Arun Jaitley (@arunjaitley) April 17, 2018
Other Sources revealed that RBI has directed banks with extra cash to help other banks (Government as well as Private) facing this issue of shortage of cash. According to a report, there is a mismatch between demand and supply of cash. In ATM transactions it has gone up as in earlier the average transaction in ATMs was Rs. 3000 but now it has increased to 5000. This Temporary Cash Unavailability At ATMs In Many States refreshes all the memories of November 2016 when the Demonetization occurs.