Dry ATMs: Rahul takes a dig at govt

FinMin reviews situation, blames it on ‘unusual demand’

GN Bureau | April 17, 2018


#ATM   #Currency   #Cash   #Cashless   #Rahul Gandhi   #Narendra Modi  
Representational image
Representational image

As media reports spoke of ATMs across the country going dry, Congress leader Rahul Gandhi took a dig at the government even as the finance ministry reviewed the situation and blamed it on “unusual demand for cash”.

“Desh ke ATM sab phir se khali, Benkon ki haalat kya kar dali,” Rahul Gandhi tweeted on Tuesday.

Last weekend, media reports spoke of ATMS especially in smaller towns and villages not delivering cash over the previous week.

The finance ministry meanwhile noted, “There are reports of cash shortages and some ATMs running dry of cash or becoming non-functional in some parts of the country.” It said there has been “unusual spurt in currency demand in the country in last three months”.

“In the current month, in the first 13 days itself, the currency supply increased by Rs. 45, 000 crores. This unusual spurt in demand is seen more in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar,” it said.

The government maintained it has, along with the Reserve Bank of India, “taken all steps to meet this unusual demand”. “We had adequate reserves of currency notes which have been used to meet fully the extraordinary demand generated so far. We continue to have in stock adequate currency notes of all denominations, including of Rs.500, 200 and Rs.100 to meet any demand.”

It assured people of adequate supply of currency notes “which have met entire demand so far”. It said all steps were being taken to ensure that ATMs are supplied with cash and to get non-functional ATMs normalised at the earliest.
 

Comments

 

Other News

What unpaid nation builders want from policymakers

The Supreme Court recently described homemakers as “nation builders” and fixed a notional monthly income of Rs 30,000 for them in motor accident compensation cases. The judgment was not about wages. It was about compensation. Yet it inadvertently raised a larger economic question: If a homemake

What the US–Iran peace deal means for India

After months of rising tensions, the United States and Iran have reached a memorandum of understanding called the "Islamabad Agreement." This agreement allows for the immediate reopening of the Strait of Hormuz without tolls and provides Iran with relief from sanctions, depending on its complianc

V. M. Tarkunde: A legal luminary par excellence

14 Lawyers: Portraits from The Bar By Raju Ramachandran  Juggernaut, 248 pages, Rs. 799  

The Cost of Obesity

The latest episode of Checks and Balances focuses on the ticking time bomb of obesity in India, and Geetanjali Minhas of Governance Now spoke with a panel of experts. You can watch the episode here: https://youtu.be/mH

US-Iran deal: Path to peace or prelude to deeper regional quagmire?

In the midst of deep mistrust, the US and Iran are reported to have reached a framework deal for ending the West Asian conflict. But whether it will result in any meaningful breakthrough or pave the way for any lasting peace in the region, is in the realm of speculation.   During

Lived life, philosophy, spirituality and other enigmas

The Ashes Are Warm: Memories of a Lifetime Spent with UG Krishnamurti By Mahesh Bhatt and Sunita Pant Bansal Rupa Publications, 384 pages, Rs 495  





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter