More than a year after Prime Minister Narendra Modi sensationally announced the note ban, people have begun bear the brunt of fresh cash crunch in three big states once again.
Social media platforms have been replete with users posting stories of their personal inconvenience while attempting to withdraw their own hard-earned cash from ATMs in these states. There are also reports of people facing cash shortages in Andhra Pradesh and Telangana too.
Several Parts of country gone #cashless, especially ATMs, despite currency flow in the economy going back to the pre-demonetisation level. Cash hoarding suspected!
— anshuman tiwari (@anshuman1tiwari) April 14, 2018
Ok folks….those who r living in Delhi & across NCR…Pls DM me accurate place of ATMs near you which is dried and has cash crunch. Spread it to world and tell me how u n Ur close one r affected due to to cash crunch. Pls help and spread the message.
— ASHUTOSH MISHRA (@ashu3page) April 16, 2018
ATMs are running out of cash. I got 5 empty ATMs before finding the 6th one with cash and it was inside a bank. This is Bangalore. Totally terrible situation!
— Sushant Sinha (@sushantsinha) April 16, 2018
Have Searched 5 ATMs in Bangalore near Golf course road…. Wandered around 1 hour… No cash…. Back to hotel without cash….. WTF is going on….
— संत श्री मासूम तड़ीपार #RYP ? (@Aam_Nationalist) April 16, 2018
An alarmed chief minister of Madhya Pradesh, Shivraj Singh Chouhan, was quoted by ANI, “16.5 lakh crore notes were printed & circulated in markets, but where are Rs.2000 notes going? Who is trying to create a cash crunch? This is a conspiracy to create problems & state govt will take strict action on it, we are in touch with centre also.”
16.5 lakh crore notes were printed & circulated in markets, but where are Rs.2000 notes going? Who is trying to create a cash crunch? This is a conspiracy to create problems & state govt will take strict action on it, we are in touch with centre also: MP CM Shivraj Singh Chouhan pic.twitter.com/oHoKczLG2F
— ANI (@ANI) April 16, 2018
This came nearly four days after the finance ministry held an emergency meeting with the Reserve Bank of India (RBI), banks, and state government officials on to take stock of cash availability in ATMs after receiving complaints of cash crunch in some states. Quoting an analysis by the RBI, Business Standard had recently reported that the rate of cash withdrawal was far more than the cash deposits in banks in states such as Andhra Pradesh, Bihar, Karnataka, Maharashtra, Rajasthan, Uttar Pradesh, Madhya Pradesh, and Telangana.
An angry mob on Sunday had reportedly vandalised an ATM in Jammu and Kashmir’s Kupwor district after being unable to withdraw cash.