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Currency in surplus, ATMs being monitored daily: Arun Jaitley

Post demonetisation there was a cap on withdrawal from ATMs, but gradually it has been eased

Press Trust of India  |  New Delhi 

Arun Jaitley
Arun Jaitley

Finance Minister on Wednesday said the is in a surplus and the ministry is monitoring the status of on a daily basis to sort out operational issues.

"The Department of Financial Services is collecting details about money in There might be a few operational issues in some locations... I get the report on a daily basis... we are monitoring it so that these kinds of situations do not arise. as of now is in surplus, there is no shortage," the minister said.

He was replying to queries on several ATMs, including in Delhi, running dry.

Financial Services Secretary Anjuly Chib Duggal said her department is monitoring the situation on a daily basis on how much money was loaded in and how much is remaining that can be used further.

Echoing Jaitley, she said: "As of now, there is no shortage or shortage at ATMs. It might be in cases of offsite ATMs because they are being loaded by the agents so there might be some gap in such cases."

Post there was a cap on withdrawal from ATMs, but gradually it has been eased. However, there still exists a weekly cap of Rs 24,000 on withdrawal from ATMs, in line with the ceiling on savings bank accounts.

RBI has announced that the Rs 24,000 weekly cap will be enhanced to Rs 50,000 from February 20. All the limits on withdrawal will be removed on March 13.

First Published: Wed, February 15 2017. 23:58 IST