There have been reports of a cash crunch in several states including Telangana and Andhra Pradesh this month. People in Maharashtra, Rajasthan, Uttar Pradesh, Madhya Pradesh and Karnataka are facing a huge issue with no cash in ATMs.
For the past couple of days, citizens of Hyderabad have complained that none of the ATMs are dispensing cash in the City. The Finance Ministry has called for a meeting with the Reserve Bank of India to take charge of the situation.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan claims Rs. 2,000 notes were vanishing and stating there was a conspiracy behind it. At a farmers’ convention, Chouhan said, “The currency worth Rs. 15,00,000 crore was in circulation before demonetization. After the demonetization exercise, the currency in circulation increased to Rs. 16,50,000 crore. But notes of Rs. 2,000 are missing from the market.”
Referring to the cash crunch in ATMs the CM said, “Where these notes of Rs. 2,000 denomination are going, who are keeping them out of circulation? Who are the persons creating shortfall of cash? This is a conspiracy to create problems. The government will act tough on this.” The CM decided to take the issue up with the Union Government.
