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Unusual spurt in currency demand, RBI has taken steps to ensure cash in ATMs: Govt

Updated: Apr 18, 2018 06:25:23am
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Unusual spurt in currency demand, RBI has taken steps to ensure cash in ATMs: Govt

New Delhi, Apr 18 (KNN) In the wake of news reports surfacing that the ATMs in states of Andhra Pradesh, Telangana, Karnataka, MP and Bihar running out of cash, the government notified that it has taken cognisance of the issue and the Reserve Bank has taken all steps to address the same.

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.45000 crores.  This unusual spurt in demand is seen more in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar, Ministry of Finance said in an official release.

The Government of India with the Reserve Bank of India have 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, the release added.

“We continue to have in stock adequate currency notes of all denominations, including of Rs.500, 200 and Rs.100 to meet any demand”, finance Ministry said.

The Government further assured that there have been adequate supply of currency notes which have met entire demand so far.

The government also said that it would be supplying adequate currency notes to meet even higher levels of demand if such demand were to continue in the coming days/months. 

The Government is taking all steps to ensure that ATMs are supplied with cash and to get non-functional ATMs normalised at the earliest, the official release informed. (With PIB Inputs)

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