RBI to release Rs 2,000 cr to meet currency crunch in Telangana: Dattatreya

An amount of Rs 9,000 crore was released to the banks by the RBI by June 2017: Dattatreya

Union Labour Minister Bandaru Dattatreya today said Reserve Bank of India (RBI) will be releasing Rs 2,000 crore worth of currency to banks in Telangana, to meet the currency crunch in the state.

In a meeting with bankers on the issues of farmers loans, Dattatreya said as much as Rs 9,000 crore was released during June and another Rs 2,600 crore during the first week of this month.

Dattatreya said he has spoken to Finance Minister Arun Jaitley on the issue of sufficient currency supply to the banks.

"An amount of Rs 9,000 crore was released to the banks by the RBI by June 2017, Rs 2,600 was released in the first week of July 2017 and another Rs 2,000 crore will be released to banks in Telangana on July 13," a statement from the minister said.

He noted that Rs 3,600 crore is currently available in the cash chests of various banks in Telangana.

"With the total availability of Rs 5,600 crores approximately in the state, he hoped that the crisis would find a reasonable solution," the minister added.