Nation Current Affairs 11 Apr 2018 Reserve Bank of Indi ...

Reserve Bank of India quizzes bank officials on new notes demand

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Apr 11, 2018, 1:05 am IST
Updated Apr 11, 2018, 1:05 am IST
Reserve Bank of India
 Reserve Bank of India

TIRUPATI: People may continue to face cash shortage for some more time as bankers claim RBI is not releasing fresh supply of currency notes.

“Whenever currency chests request from currency notes, RBI officials seek to know how the previously issued money was used. But I fail to understand how can we explain about its utilisation,” said a bank official at currency chest, who did not want to be named.

According to bank officials, people are withdrawing money from banks but they are not depositing the cash in equal measure.

“The withdrawals are huge compared to the deposits. This is why most of the ATMs are shut. The currency crunch is observed here from the time of demonetisation.”

Most ATMs in Andhra Pradesh and Telangana are unable to dispense cash.

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