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17 April 2018
 |
| Union
Finance Minister Arun Jaitley (The
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U nion Finance Minister Arun Jaitley has
called the cash crunch in the country as a 'temporary shortage' and assured
that the situation is being tackled quickly.
"Have reviewed the currency situation in
the country. Over all there is more than adequate currency in circulation and
also available with the banks. The temporary shortage caused by 'sudden and
unusual increase' in some areas is being tackled quickly," the Finance
Minister wrote on Twitter.
Shiv Pratap Shukla, Minister of State for
Finance had earlier accepted that there is a shortage of cash in ATMs in some
parts of the country, as reported by ANI.
"We have cash currency of Rs. 1,25,000
crores right now. There is one problem that some states have less currency and
others have more. The government has formed state-wise committee and RBI also
formed committee to transfer currency from one state to other. It will be done
in three days," Shukla told ANI.
"There is nothing to worry about and
that the economic system of India is still safe and secure," he added
further.
The Centre and the Reserve Bank of India
(RBI) have stepped in to tackle the shortage of cash in several states. Despite
currency flow in the economy being higher than the pre-demonetisation level
many states have reported shortage of cash over the past few days.
Hyderabad, Bhopal, Surat, Varanasi, Patna,
Noida and Delhi are among the worst hit.
Assam, Andhra Pradesh, Telangana, Karnataka,
Maharashtra, Rajasthan, Uttar Pradesh and Madhya Pradesh are the most affected
states. RBI sources have said that "higher than normal withdrawal of
cash" in these states have led to acute shortage of cash.
The sources in the government said that
occurrence of various festivals like Baisakhi, Bihu and other harvest festivals
which also mark the lunar new year recently might have pushed the demand for
cash in the affected states.The Total
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