INSUBCONTINENT EXCLUSIVE:
Currency notes are made available so that ATMs do not run dry in any eventuality, the government has saidThe government has said that it is
aware of reports suggesting unavailability of cash in "several ATMs" across the country
things the government said on about cash availability in ATMs:1
The Reserve Bank of India (RBI) has informed that the increase in demand for currency recently, which led to high ATM usage, can be
attributed to "seasonal and structural issues", Mr Shukla said.2
Seasonal issues such as demand for cash in the agriculture sector, with few state governments announcing farming- and pension-related
schemes, and structural issues - including economic growth and high currency deposit ratio in some states - led to high ATM usage, according
to the central bank.The Punjab government on Monday released Rs 760 crore to clear outstanding payments against free power subsidy for
farmers, besides other payments towards agriculture and allied activities
All the pending VAT/GST bills have also been cleared with the release of Rs 17 crore, news agency Press Trust of India cited an official
he said, included RBI vaults and currency chests of all banks across the country
He also said that the central bank has informed that the total amount of notes in circulation (NIC) as on July 18, 2018 was Rs 19.28 lakh
crore as compared to Rs 17.74 lakh crore as on November 4, 2016.4
The government, he added, has requested all banks to efficiently manage the cash to ensure that adequate cash is available for ATMs and
"Further, the position of fresh / re-issuable notes in currency chests of banks and in RBI vaults are being monitored on a regular basis and
adequate supply of cash is being ensured," he added.(With agency inputs)
