Maharashtra finance minister says no cash crisis in state

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Maharashtra government hasn’t received any reports of cash crunch in the country, finance minister Sudhir Mungantiwar said now but added that the Reserve Bank was requested to provide details of their prevailing cash scenario in the country. “Currently, we haven’t received any complaints of cash shortages in ATMs in the nation. Nevertheless, this might be attributed to individuals not registering a complaint. Yet, if we get any complaint, it will be taken up seriously,” Mungantiwar told PTI.

“Government has also requested the RBI to offer the details of the prevailing cash scenario at ATMs. We’ll get the report by Thursday, just then we can state if there is a cash crunch or maybe not,” he further added. Several elements of Andhra, Telangana, MP, Bihar, UP, Punjab and Chhattisgarh and poll-bound Karnataka are
reporting cash shortages at ATMs and banking for quite a while now, however Union finance minister Arun Jailey now blamed this to an  unusual spurt in demand within the past 3 months.

Denying that there is a shortage of currency in circulation, Jaitley said that the “temporary shortage” in some states has been “handled quickly” and that there is “more than sufficient” currency in circulation. “Overall there is more than sufficient money in circulation and also available with the banks. The temporary shortage caused by ‘unusual and sudden growth’ (in demand) in certain regions has been handled immediately,” he tweeted.

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