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

CSIR’s new Innovation Complex to foster translational research, industry collaboration

India is home to many small and big industries where research is carried out, yet many innovators are not able to find a platform to bring their ideas into fruition. Despite having a vast network of government laboratories that perform ground breaking research, these innovations struggle to translate into

Deepa Malik and the incredible story of her indomitable spirit

Bring It On: The Incredible Story of My Life By Deepa Malik HarperCollins, 312 pages, Rs 499

RINL gets Rs 11,440 crore revival plan

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, has approved the revival plan for RINL for a total of Rs 11,440 crore. The infusion includes ₹10,300 crore as equity capital into Rashtriya Ispat Nigam Ltd. (RINL) and Conversion of ₹1,140 crore working capital loan as 7% No

How SpaDeX Mission revolutionises space exploration

In a historic achievement, the Space Docking Experiment (SpaDeX) mission’s docking operation was successfully completed on Thursday, marking India’s entry into the elite group of nations capable of executing space docking operations. With this success, India becomes the fourth country in the wo

New insights into the Ramayana’s deep cultural resonance

Many Ramayanas, Many Lessons By Anand Neelakantan HarperCollins, 456 pages, Rs 599 The Ramayana, one of the most

Maha Kumbh Mela: A primer on key rituals and practices

The Maha Kumbh Mela, celebrated as the world`s largest spiritual gathering, is a breathtaking convergence of faith, culture, and ancient tradition. Rooted in Hindu mythology, this sacred festival unfolds four times over a course of twelve years, rotating between four revered cities in India: Haridwar, Ujja

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter