Several States Complain Of A Cash Crunch, Residents Worried

Several States Complain Of A Cash Crunch, Residents Worried

"The temporary shortage caused by "sudden and unusual increase" in some areas is being tackled quickly", he tweeted.

In Varanasi, people told ANI, "We do not know what or where the problem is but the common man is facing difficulty as the ATM kiosks are not dispensing cash".

Mos Finance SP Shukla said that the Reserve Bank has formed a committee to transfer currency from one state to other. Government has formed state-wise committee and RBI has also formed a committee to transfer currency from one state to the other.

Meanwhile, the government assured that the matter would be solved in 3 days.

Among the worst affected cities are Hyderabad, Bhopal, Surat, Varanasi and Delhi.

There are also others who link the scarcity to upcoming elections in states like Karnataka, Andhra Pradesh, Madhya Pradesh etc. Due to this people are running from one ATM to another in search of cash. "Cash is not coming back into the banking system", State Bank of India (SBI) regional manager, Visakhapatnam, H Purnima, said.

"The government is committed to protecting every depositor in public sector banks and therefore we need not create any fear psychosis", Finance Minister Arun Jaitley had said while replying to a discussion on 'Supplementary Demand for Grants - Second Batch for 2017-18'in Lok Sabha. And the only party flush with cash is the BJP: "the people suffer".

Madhya Pradesh Chief Minister Shivraj Singh Chouhan today claimed that Rs. 2,000 notes were vanishing from the market, and alleged that there was a "conspiracy" behind it.

Commenting on the reports that banks are running short of cash in many states such as Andhra Pradesh, Uttar Pradesh, Bihar and Madhya Pradesh, Jaitley said he has reviewed the currency situation.

"When demonetisation took place, markets were flooded with currency notes worth Rs 15 lakh crore".

"Where these notes of Rs. 2,000 denomination are going, who are keeping them out of circulation?" There is no apparent cash crunch across states. This is a conspiracy to create problems. "The government will act tough on this".

The hashtag ATM trended on Twitter since Tuesday morning as people complained that they have had come away from ATMs without cash. "We are facing difficulty, don't know what to do". "Banks have been advised to optimise cash flow at ATMs well", a senior finance ministry official told the newspaper. The situation has been the same since last 15 days.

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