ATM cash crisis: Check out the story by the big numbers, from Rs 500, Rs 2,000 to Rs 23 lakh crore
Government has decided to increase printing of Rs 500 notes by five times to bring relief to public from the cash crunch. Govt prints about 500 crore of notes per day.
Over next 2 days, India will have a supply of about Rs 2,500 crore worth of Rs 500 notes per day. In a month, supply would be about Rs 70,000-75,000 crore.
Currently, around Rs 18 lakh crore worth of currency was in circulation - a little over what was in circulation at the time of demonetisation. At the time of demonetisation, the currency in circulation was Rs 17.5 lakh crore. Currency in circulation now is about Rs 18 lakh crore.
Govt keeps Rs 2.5-3 lakh crore more currency in stock for excess demand. Govt still has a reserve of Rs 1.75 lakh crore.
Unusually high demand for currency in the last couple of months. Average demand is for about Rs 20,000 crore a month. However, in first 13 days of April there was a demand of Rs 45,000 crore.
If currency had grown as it was growing before demonetisation, probably it would have been somewhere at the level of Rs 22-23 lakh crore now.