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india

ATMs run out of cash, Finance Minister A.Jaitley assured population proper flow of currency

ATMs run out of cash, Finance Minister A.Jaitley assured population proper flow of currency

Currency shortage which popped up at different bank’s automated teller machines across India today raised much concern. In fact, queuing clients at ATMs were disappointed as they realised that ATMs were out of service.  Amid reports on Monday declared that many complaints were registered forwarding the incident.

As a consequence, finance union Minister wished to underline that the flow of currency is more than sufficient in the country and that the banks are not facing cash flow issues. He defined Monday’s shortage as “temporary” and tweeted:

“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.”

Complaints were filed on Monday as clients in Bihar, eastern Maharashtra and Gujarat. Last month, Telangana and Andra Pradesh faced a similar situation as the ATMs were went dry and clients could not access their money.

The Reserve Bank of India (RDI) stated that this shortage was due to a huge withdrawal of money in some areas. The opposition members commented this issue as a mismanagement of Modi’s government. Congress leader, Rahul Gandhi, further added that the Punjab National Bank Scam (PNB), involving Nirav Modi, is being covered by Modi’s government while the country is facing financial crisis.