ATMs run out of cash: What Arun Jaitley has to say

Department of Economic Affairs said the government is taking all steps to ensure that ATMs are supplied with cash as well as the ones which are non-functional are normalised at the earliest

On Monday, Madhya Pradesh Chief Minister Shivraj Singh Chauhan claimed there was a conspiracy behind Rs 2000 notes disappearing from the market.

Cash crunch: The ATMs are either not working or are out of cash. The Government has formed a state-wise committee and RBI also formed a committee to transfer currency from one state to other.

However, the government has time and again assured the Lok Sabha that money of all depositors in public sector banks will be protected and there is no need to create any fear psychosis.

Meanwhile, SP Shukla, Mos Finance has said, "We've cash currency of Rs 1,25,000 crore right now". There is one problem that some states have less currency and others have more.

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"We are facing a cash crunch".

People in Varanasi say, "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". There are reports from Varanasi as well of people saying there is no cash at ATMs since yesterday. Since the amount of currency put out by the Reserve Bank of India (RBI) and government printing presses is adequate for normal transactions, bankers believe there is hoarding of the Rs 2,000 notes. "We have visited several ATMs today as well, to no avail", he told ANI. Jaitley took to micro-blogging site Twitter and said that the shortage is "temporary" and that it has been caused due to "sudden and unusual increase" (in demand) in some parts of the country. ATMs are not dispensing cash. And the only party flush with cash is the BJP: "the people suffer". However, as several ATMs ran out of cash on Sunday, people ended up running from one ATM to another, to make cash withdrawals and their expenses.

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

While several states across the country have reported instances of ATMs going dry, the government has asked for at least three days to mitigate the lack of availability of currency. Stating that this is a phenomenon experienced by "all banks" since November 2017, Purnima said, "We are unable to refill ATMs because people are not depositing in banks". "We are facing difficulty, don't know what to do". Big notes missing. Reminder of #DeMonetisation days.

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