Crisis at ATMs pushes Centre to address 'unusual spurt in demand' for cash

The bedrock of the issue is that authorities haven't been able to replenish cash lost as a result of Modi's 2016 ban

India’s cash machines are running dry, leaving policy makers and bankers scrambling to assuage the public and prevent perception about the nation’s fraud-hit financial system from worsening.

As the banknote shortage spread across several states, the government finally addressed the issue in a statement Tuesday, where it cited an “unusual spurt in demand” for cash. The Finance Ministry rolled out top officials to assure Indians - still stuck with memories about Prime Minister’s Narendra Modi’s shock demonetization in 2016 - that while there’s ample amounts of currency available, steps are also being taken to print more and the broader banking