As the reports of cash-crunch in six states – Gujarat, Eastern Maharashtra, Madhya Pradesh, Bihar, Andhra Pradesh and Telangana – flows in, West Bengal Chief Minister Mamata Banerjee said that the situation reminded her of the demonetisation days.
Amid the reports of empty ATMs, the chief minister asked whether a “financial emergency” was going on in the country.
“Seeing reports of ATMs running out of cash in several states. Big notes missing. Reminder of #DeMonetisation days. Is there a Financial Emergency going on in the country?” she tweeted.
Seeing reports of ATMs running out of cash in several States. Big notes missing. Reminder of #DeMonetisation days. Is there a Financial Emergency going on in the country? #CashCrunch #CashlessATMs
— Mamata Banerjee (@MamataOfficial) April 17, 2018
Earlier in the day, Finance Minister Arun Jaitley had said that the government has reviewed the situation and “there is more than adequate currency in circulation”.
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.
— Arun Jaitley (@arunjaitley) April 17, 2018
Meanwhile, a committee has been formed by the government to address the problem of currency shortage in certain states and according to the Minister of State for Finance Shiv Pratap Shukla, the issue would be resolved in next 2-3 days.
“The government has set up state-wise committee and RBI has also formed a committee to transfer currency from one state to other because for money transfer you need the permission of the RBI. It (the shortage) will be solved in 2-3 days,” Shukla said.
As per a report of the Reserve Bank of India, the currency in circulation in the country has reached the pre-demonetisation level of about Rs 17-lakh crore.