No shortage of cash, assures Jaitley

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SME Times News Bureau | 16 Feb, 2017
Union Finance Minister Arun Jaitley on Wednesday said that there is no shortage of cash and some ATMs could be dry due to operational reasons.

Jaitley, who was briefing the media after a meeting of the Union Cabinet, was asked on reports of shortage of cash at several ATMs in different parts of the country.

"We are monitoring the situation, so that such complaints don't arise. We have currency in surplus and there is no shortage of cash... There might be some operational reasons (for dry ATMs)," Jaitley told reporters here.

The RBI last month ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts with immediate effect.

It also lifted limits on withdrawals from ATMs.

The limits were placed following the November 8 decision to demonetise Rs 1,000 and Rs 500 currency notes. The upper limit of withdrawals at ATMs was initially just Rs 2,500 per day, and was later raised to Rs 4,500. It was subsequently raised to Rs 10,000.