ATMs in some states still out of cash; 80 percent working now
The unexpected and unusual spurt in demand for cash may be partly because of the coincidence of festivals and marriages with the harvest season.
There are reports of cash shortages and some ATMs running dry of cash or becoming non-functional in some parts of the country.
Aparliamentary panel has called RBI Governor Urjit Patel on May 17 to answer queries on aspate of banking scams unearthed in the last few months, sources said.
Читайте также: Caterpillar (NYSE:CAT) Upgraded to Positive at OTR GlobalThe government has stepped up printing of currency notes to meet the demand. They further said the situation has improved substantially with coordinated efforts of finance ministry, RBI, banks and cash logistic companies. Bank officials said they were getting only one-tenth of the required cash.
"There is no need for concern, wherever there is a deficit, the bank is taking adequate measures", he said adding overall cash in economy is more than demonetisation days. ATMs should have adequate cash for people to withdraw cash. As per a recent Parliament question Reserve Bank of India (RBI) apprised that currency supply across the country is monitored regularly and adequate supplies are made available to RBI issuing offices thereby ensuring equitable distribution of currency to various parts of the country. Other lenders, including Canara Bank, Bank of India and Axis Bank claimed that cash shortage at ATMs was limited to select pockets. "After reviewing the situation, RBI is dispatching huge amount of cash to the areas which are facing maximum cash crunch, including Bihar, Jharkhand, Karnataka, Andhra Pradesh and Telangana". The currency printing (will increase) from Rs 500 crore to Rs 2,500 crore per day of Rs 500 note. Meanwhile, SBI Research pegged the cash shortfall in the system at Rs 70,000 crore, which is a third of the monthly withdrawals at ATMs. According to the RBI, there was Rs 18.17 lakh-crore currency in circulation as on April 6, which is close to the number at the time of demonetisation.
Interestingly, Andhra Pradesh and Telegana which received highest cash supply in the country in the last two years faces cash shortage, indicating tendency to hoard high denomination currency notes.
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