Will supply adequate notes to meet higher demands in coming days: Govt
Mumbai: Amid reports of various ATMs across the country running out of cash, the Central government on Tuesday came forth to respond to people's concern and assured that there have been adequate supply of currency notes which have met entire demand so far.
Department of Economic Affairs, under the Government of India, said, "It would also like to assure it would be supplying adequate currency notes to meet even higher demand in coming days/months."
Department of Economic Affairs further said the government is taking all steps to ensure that ATMs are supplied with cash as well as the ones which are non-functional are normalised at the earliest.
"We print about 500 crore of Rs 500 notes per day. We have taken steps to raise this production 5 times. In next couple of days, we'll have supply of about 2,500 crore of Rs 500 notes per day. In a month, supply would be about 70,000-75,000 crore," S C Garg, Secretary of Deptartment of Economic Affairs said.
Reports of ATMs running out of cash were been received from several states, including Karnataka, Telangana, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh and Madhya Pradesh.
Union Finance Minister Arun Jaitley on Tuesday said the temporary shortage caused by ‘sudden and unusual increase’ in some areas is being tackled quickly.
“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,” the finance minister tweeted on Tuesday.
Also Read: ATMs out of cash in many states, Arun Jaitley says 'temporary shortage'
Earlier on Tuesday, Minister of State (MoS) Finance SP Shukla said, "We've cash currency of Rs 1,25,000 crore right now. There is one problem that some states have less currency and others have more. Government has formed state-wise committee and RBI also formed committee to transfer currency from one state to other. It will be done in three days."
