On Tuesday, the news of cash disappeared from ATMs in several small cities of the country has stirred up. A large number of people started reaching ATMs, although the Finance Minister clarified there was no shortage of cash.
New Delhi: On Tuesday, the news of cash disappeared from ATMs in several small cities of the country has stirred up. A large number of people started reaching ATMs, although the Finance Minister clarified there was no shortage of cash. Now the Finance Ministry has claimed to remove the cash shortage in a week. Banaras, Bhopal, Patna, Hyderabad- ATMs everywhere are visible and crowds of people appear. The news was that there was no money in the ATM.
At the same time, Finance Minister Arun Jaitley said that the situation of cash in the country was taken care of. Overall, there is more cash than enough and the banks also have it. In some areas, there is a sudden increase in demand from the sudden and increased demands of the community. Banking Secretary Rajiv Kumar told NDTV that 85% ATM machines have cash in them. 10 to 12 percent machines are always in maintenance. But then why is the crisis? Rajiv Kumar has been cleared that the demand for cash in March is high.
Why cash crisis?
- Fear of the Financial Resolutions and Deposit Insurance Bill
- Provision of taking full money by leaving only one lakh in the bill
- Provision for improving the health of the banks by customers’ money
- Nervousness in customers due to rising NPA
- Due to fear, banks will be forced to withdraw money from ATM
- Year-2000 printed notes almost close
- 70% ATM not ready for 7- 200 notes
- Increase in procurement in the agriculture sector
- Wedding Season
- Closure of financial year by companies
