ATM currency crisis: What is to blame? Huge withdrawals in Telangana, Andhra, Karnataka
The total requirement of paper currency is 25,000 tonnes but that has not been met, sources said. The Centre has not attributed any particular reason for the cash dearth as ATMs dried up in many parts of the country and said it’s a temporary problem. “Overall there is more than adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ (in demand) in some areas is being tackled quickly,” Finance Minister Arun Jaitley said in a tweet.
An acute shortage of currency paper is a major trigger for the current cash crunch affecting the printing of Rs 2000, 500 and 100 notes. Image source: PTI