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Cash in surplus, no shotage at all: Finance Minister Arun Jaitley

RBI lifted all caps on withdrawals from current accounts, cash credit accounts and overdraft account

IANS  |  New Delhi 

Arun Jaitley

Union Finance Minister 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 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.

Cash in surplus, no shotage at all: Finance Minister Arun Jaitley

RBI lifted all caps on withdrawals from current accounts, cash credit accounts and overdraft account

RBI lifted all caps on withdrawals from current accounts, cash credit accounts and overdraft account
Union Finance Minister 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 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.

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Business Standard
177 22

Cash in surplus, no shotage at all: Finance Minister Arun Jaitley

RBI lifted all caps on withdrawals from current accounts, cash credit accounts and overdraft account

Union Finance Minister 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 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.

image
Business Standard
177 22