Cash crunch in many states as ATMs run dry; RBI forms panel to fix issue

By: Express Web Desk | New Delhi |
Updated: April 17, 2018 11:52:15 am

Cash crunch: Among the worst affected cities are Hyderabad, Bhopal, Surat, Varanasi and Delhi

The Reserve Bank of India Tuesday formed a committee to tide over the cash crunch crisis that has hit a few states in the country. Despite the cash flow going back to the pre-demonetisation levels, people are facing difficulty in withdrawing cash from ATMs.

Minister of State for Finance, SP Shukla told ANI that the cash shortage was due to some states having low currency reserves in comparison to others. He said the government has also set up a state-wise committee to oversee the transfer of excess currency between the states. The issue will be resolved in three days, he added.

“We’ve cash currency of Rs 1,25,000 cr right now. There is one problem that some states have less currency…

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