Monday 23 November 2020

There is more than adequate currency in circulation: Jaitley

- Posted on 17 April 2018

New Delhi, April 17 (IANS) Allaying fears of currency shortage in the country, Finance Minister Arun Jaitley on Tuesday said the government has reviewed the situation and “there is more than adequate currency in circulation”.

“Have reviewed the currency situation in the country. 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 some areas is being tackled quickly,” Jaitley tweeted.
His tweet came following some reports that ATMs have run out of money in some parts of the country.
Currency shortage was reported in Andhra Pradesh, Telangana and Madhya Pradesh in the past few weeks. There were also complaints of shortage in parts of Maharashtra, Gujarat and Bihar on Monday.
According to Reserve Bank of India data, currency in circulation as on April 6 was Rs 18.17 lakh crore.
Industry experts feel the shortage has been caused because of cash hoarding of the Rs 2,000 currency notes.
–IANS
ag/sac

Read more

Punjabupdate is the free media platform established with a view to uphold what the fourth estate stands for without making any tall claims. Our practice so far has been to be non-conformist rather than flowing with the tide. We know this is not the easy path but then it has always been so. It is credibility and independence that are dear to us and epitomise our core values. We will question what is wrong and espouse what we feel is the right cause, at the same time fully conscious that both are relative terms but we will go by the interpretations are rooted in the collective consciousness of the people. At the same time, we will not stake any claim to be moralists as that can the most difficult test to pass and we admit it.
Copyright 2020 © punjabupdate.com