Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
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Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
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Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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    <h1 class="cat-box-title">India&#039;s cash crunch: Six steps that led to the currency shortage 16 months after demonetisation -M Rajshekhar, Mridula Chari, Abhishek Dey, Vinita Govindarajan &amp; Arunabh Saikia</h1>
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                            <div align="justify">-Scroll.in<br /><br /><em>Scroll.in reporters fanned out across the country to uncover the reasons for the crisis. <br /></em><br />India&rsquo;s current cash crunch is a real enigma.<br /><br />To begin with, there is its sheer unprecedented nature. In all the years since Independence, India has never seen something like it. &ldquo;We have heard of coin shortages but never a cash shortage,&rdquo; said MS Sriram, visiting faculty at the Indian Institute of Management-Bangalore&rsquo;s Centre for Public Policy. &ldquo;I certainly have not in my life. This is new.&rdquo;<br /><br />How the shortage played out is odd too. It is acute in some states but not in others. For instance, in Tura, the largest town in Meghalaya&rsquo;s Garo Hills, an official at the main State Bank of India office, which disburses cash to the bank&rsquo;s other branches in the region, told Scroll.in that cash reserves had dwindled to almost a fifth of the required amount. &ldquo;There is pressure from other branches to release money, but we have not been able to give even half of what they have been demanding,&rdquo; the official said.<br /><br />A clutch of other states &ndash; including Bihar, Assam, Maharashtra, Telangana and Karnataka &ndash; are facing shortages too. But states like Delhi are less affected.<br /><br />The discrepancy is visible within states too. In Maharashtra, Mumbai is fine but Nashik is not. In Tamil Nadu, big banks in Hosur say they are getting all the money they need but their counterparts in surrounding villages say the situation is bad. &ldquo;We contact our sister branches to see if any of them has surplus cash,&rdquo; said the manager of a public-sector bank in Belathur, a village about 20 km west of Hosur.<br /><br />There are other puzzles. The cash squeeze showed up not gradually but suddenly. Reports began coming in from several states from February. If the cash squeeze was only due to a growing mismatch between cash supply and the demands of the growing economy, it should have shown up gradually, experts say.<br /><br />As a report in Scroll.in noted earlier this month, several theories emerged to explain the shortage, covering the gamut from obvious to plausible to off-the-wall. Shortly afterwards, several Scroll.in reporters fanned out across the country, speaking to people in both cities and villages, to try to identify the genesis of this shortage.<br /><br />Please <a href="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation" title="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation" class="re" target="_blank">Scroll.in, 30 April, 2018, https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation</a><div class="clear"></div>
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    <h1 class="cat-box-title">India&#039;s cash crunch: Six steps that led to the currency shortage 16 months after demonetisation -M Rajshekhar, Mridula Chari, Abhishek Dey, Vinita Govindarajan &amp; Arunabh Saikia</h1>
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                            <div align="justify">-Scroll.in<br /><br /><em>Scroll.in reporters fanned out across the country to uncover the reasons for the crisis. <br /></em><br />India&rsquo;s current cash crunch is a real enigma.<br /><br />To begin with, there is its sheer unprecedented nature. In all the years since Independence, India has never seen something like it. &ldquo;We have heard of coin shortages but never a cash shortage,&rdquo; said MS Sriram, visiting faculty at the Indian Institute of Management-Bangalore&rsquo;s Centre for Public Policy. &ldquo;I certainly have not in my life. This is new.&rdquo;<br /><br />How the shortage played out is odd too. It is acute in some states but not in others. For instance, in Tura, the largest town in Meghalaya&rsquo;s Garo Hills, an official at the main State Bank of India office, which disburses cash to the bank&rsquo;s other branches in the region, told Scroll.in that cash reserves had dwindled to almost a fifth of the required amount. &ldquo;There is pressure from other branches to release money, but we have not been able to give even half of what they have been demanding,&rdquo; the official said.<br /><br />A clutch of other states &ndash; including Bihar, Assam, Maharashtra, Telangana and Karnataka &ndash; are facing shortages too. But states like Delhi are less affected.<br /><br />The discrepancy is visible within states too. In Maharashtra, Mumbai is fine but Nashik is not. In Tamil Nadu, big banks in Hosur say they are getting all the money they need but their counterparts in surrounding villages say the situation is bad. &ldquo;We contact our sister branches to see if any of them has surplus cash,&rdquo; said the manager of a public-sector bank in Belathur, a village about 20 km west of Hosur.<br /><br />There are other puzzles. The cash squeeze showed up not gradually but suddenly. Reports began coming in from several states from February. If the cash squeeze was only due to a growing mismatch between cash supply and the demands of the growing economy, it should have shown up gradually, experts say.<br /><br />As a report in Scroll.in noted earlier this month, several theories emerged to explain the shortage, covering the gamut from obvious to plausible to off-the-wall. Shortly afterwards, several Scroll.in reporters fanned out across the country, speaking to people in both cities and villages, to try to identify the genesis of this shortage.<br /><br />Please <a href="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation" title="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-Scroll.in<br /><br /><em>Scroll.in reporters fanned out across the country to uncover the reasons for the crisis. <br /></em><br />India&rsquo;s current cash crunch is a real enigma.<br /><br />To begin with, there is its sheer unprecedented nature. In all the years since Independence, India has never seen something like it. &ldquo;We have heard of coin shortages but never a cash shortage,&rdquo; said MS Sriram, visiting faculty at the Indian Institute of Management-Bangalore&rsquo;s Centre for Public Policy. &ldquo;I certainly have not in my life. This is new.&rdquo;<br /><br />How the shortage played out is odd too. It is acute in some states but not in others. For instance, in Tura, the largest town in Meghalaya&rsquo;s Garo Hills, an official at the main State Bank of India office, which disburses cash to the bank&rsquo;s other branches in the region, told Scroll.in that cash reserves had dwindled to almost a fifth of the required amount. &ldquo;There is pressure from other branches to release money, but we have not been able to give even half of what they have been demanding,&rdquo; the official said.<br /><br />A clutch of other states &ndash; including Bihar, Assam, Maharashtra, Telangana and Karnataka &ndash; are facing shortages too. But states like Delhi are less affected.<br /><br />The discrepancy is visible within states too. In Maharashtra, Mumbai is fine but Nashik is not. In Tamil Nadu, big banks in Hosur say they are getting all the money they need but their counterparts in surrounding villages say the situation is bad. &ldquo;We contact our sister branches to see if any of them has surplus cash,&rdquo; said the manager of a public-sector bank in Belathur, a village about 20 km west of Hosur.<br /><br />There are other puzzles. The cash squeeze showed up not gradually but suddenly. Reports began coming in from several states from February. If the cash squeeze was only due to a growing mismatch between cash supply and the demands of the growing economy, it should have shown up gradually, experts say.<br /><br />As a report in Scroll.in noted earlier this month, several theories emerged to explain the shortage, covering the gamut from obvious to plausible to off-the-wall. Shortly afterwards, several Scroll.in reporters fanned out across the country, speaking to people in both cities and villages, to try to identify the genesis of this shortage.<br /><br />Please <a href="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation" title="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation" class="re" target="_blank">Scroll.in, 30 April, 2018, https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation</a><div class="clear"></div>
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India's cash crunch: Six steps that led to the currency shortage 16 months after demonetisation -M Rajshekhar, Mridula Chari, Abhishek Dey, Vinita Govindarajan & Arunabh Saikia

Published on May 1, 2018   Modified on May 1, 2018

-Scroll.in Scroll.in reporters fanned out across the country to uncover the reasons for the crisis. India’s current cash crunch is a real enigma. To begin with, there is its sheer unprecedented nature. In all the years since Independence, India has never seen something like it. “We have heard of coin shortages but never a cash shortage,” said MS Sriram, visiting faculty at the Indian Institute of Management-Bangalore’s Centre for Public Policy. “I certainly have not in my life. This is new.” How the shortage played out is odd too. It is acute in some states but not in others. For instance, in Tura, the largest town in Meghalaya’s Garo Hills, an official at the main State Bank of India office, which disburses cash to the bank’s other branches in the region, told Scroll.in that cash reserves had dwindled to almost a fifth of the required amount. “There is pressure from other branches to release money, but we have not been able to give even half of what they have been demanding,” the official said. A clutch of other states – including Bihar, Assam, Maharashtra, Telangana and Karnataka – are facing shortages too. But states like Delhi are less affected. The discrepancy is visible within states too. In Maharashtra, Mumbai is fine but Nashik is not. In Tamil Nadu, big banks in Hosur say they are getting all the money they need but their counterparts in surrounding villages say the situation is bad. “We contact our sister branches to see if any of them has surplus cash,” said the manager of a public-sector bank in Belathur, a village about 20 km west of Hosur. There are other puzzles. The cash squeeze showed up not gradually but suddenly. Reports began coming in from several states from February. If the cash squeeze was only due to a growing mismatch between cash supply and the demands of the growing economy, it should have shown up gradually, experts say. As a report in Scroll.in noted earlier this month, several theories emerged to explain the shortage, covering the gamut from obvious to plausible to off-the-wall. Shortly afterwards, several Scroll.in reporters fanned out across the country, speaking to people in both cities and villages, to try to identify the genesis of this shortage. Please click here to read more.

Scroll.in, 30 April, 2018, https://scroll.in/article/877289/indias-cash-crunch-six-steps-that-led-to-the-currency-shortage-16-months-after-demonetisation

Tagged with: Demonetisation Currency demonetisation Cash shortage Cash payments cash deficit cash crunch

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