ATM Cash Crunch Today: Madhya Pradesh Hit For Third Day in a Row, PMO Takes Stock of Situation
As MP reels under the cash crunch for the third consecutive day, the Prime Minister's Office is reportedly taking stock of the situation.
New Delhi, April 18: The impact of cash crunch which struck over a dozen states on Tuesday was felt in some regions today as well. Madhya Pradesh remained the worst affected with the automated teller machines in several parts of the state yet to be replenished.
"The crisis has hit us for a third day in a row. Most ATMs are out of cash. The situation needs to be addressed on war-footing by the government," Sagar resident Anil Jogi told LatestLY.
Another resident, while speaking to news agency ANI on Wednesday said, "I have been to more than 12 ATMs since yesterday, but neither had money, we are facing a lot of problems due to this."
As MP reels under the cash crunch for the third consecutive day, the Prime Minister's Office is reportedly taking stock of the situation in the state. The Finance Ministry, along with the RBI, have been directed to ensure the crisis is curbed at the earliest.
In order to meet the cash shortage, the RBI on Tuesday said it is increasing the amount of 500-rupee notes in circulation by five times. A total of 2,500 crore pieces of 500-rupee notes will be printed per day till the crisis remains, the central bank said.
Finance Minister Arun Jaitley said the government is constantly monitoring the situation, calling the cash crunch a "temporary" issue.
"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," he said.
The Opposition, however, was quick to mark apprehension over the Finance Minister's response. The Trinamool Congress, whose administered-state West Bengal is also reeling under cash crunch, said the government should accept it's failure and address the issue rather than giving it a spin.
"How can the Finance Minister say there is abundant amount of cash? He needs to check the snaking queues in all parts of the nation," said TMC MP Derek O'Brien.
(The above story first appeared on LatestLY on Apr 18, 2018 06:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).