Maharashtra finance minister says no cash crisis in state

Apr 17, 2018, 21:51 IST | PTI

Denying that there is any shortage of currency in circulation, Jaitley said the "temporary shortage" in certain states is being "tackled quickly" and that there is "more than adequate" currency in circulation

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Maharashtra government has not received any reports of cash crunch in the state, finance minister Sudhir Mungantiwar said today but added that the Reserve Bank has been requested to provide details of the prevailing cash situation in the state. "As of now, we have not received any complaints of cash shortages at ATMs in the state. However, this may be due to people not registering a complaint with us. Yet, if we receive any complaint, it will be taken up seriously," Mungantiwar told PTI.

"Government has also requested the RBI to provide the details of the prevailing cash situation at ATMs. We will get the report by Thursday, only then we will able to say if at all there is a cash crunch or not," he added. Several parts of Andhra, Telangana, MP, Bihar, UP, Punjab and Chhattisgarh and poll-bound Karnataka have been
reporting cash shortages at ATMs and banks for some time now, but Union finance minister Arun Jailey today blamed this to an unusual spurt in demand in the past three months.

Denying that there is any shortage of currency in circulation, Jaitley said the "temporary shortage" in certain states is being "tackled quickly" and that there is "more than adequate" currency in circulation. "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," he tweeted.

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