-PTI Currency with the public has reached a record high level of over Rs 18.5 lakh crore, more than double from a low of about Rs 7.8 lakh crore it had hit post-demonetisation decision in late 2016, as per RBI data. At the same time, the total currency put in circulation by the Reserve Bank has also more than doubled to over Rs 19.3 lakh crore -- from a low of about...
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Bankers fear soiled Rs 100 notes may deepen prevailing cash crunch -Satyanarayan Iyer
-The Times of India PUNE: Bankers fear the prevailing cash crunch may deepen with unsoiled Rs 100 denomination notes “becoming scarce” too. Just like Rs 200 and Rs 2,000 notes, the Rs 100 denomination notes — especially the ones that can fit into ATM cassettes — are in short supply too, the bankers said. “This is happening as many of the available Rs 100 notes are soiled and unfit to be placed in...
More »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
-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...
More »Demonetisation 2.0: cash crunch hits farmers, again -Banjot Kaur
-Down to Earth More than creating financial crunch for upcoming sowing season, cash crunch is impacting the prices at which farmers are selling their produce While the Union government is promising that cash crunch in the market would end soon, the farmers have already started feeling the pinch badly. The fears of demonetisation have come back for them. They are in soup because not only is this the harvest season, but also...
More »ATMs run out of notes: Here's the reason behind the massive cash crunch -Somesh Jha
-Business Standard Although the rate of cash circulation has surpassed the pre-demonetisation level, it is not in tandem with the rate of economic growth Automated Teller Machines (ATMs) across various states are running dry with the present situation reminiscent of demonetisation of high-value currency notes one-and-a-half years back. States, including Gujarat, Uttar Pradesh, Madhya Pradesh, Bihar, Andhra Pradesh, Manipur and Telangana, have reported shortage of cash at ATMs. A stock-taking analysis submitted by...
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