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There is more than adequate currency in circulation: Jaitley

IANS  |  New Delhi 

Allaying fears of shortage in the country, Jaitley on Tuesday said the government has reviewed the situation and "there is more than adequate in circulation".

"Have reviewed the situation in the country. Overall there is more than adequate currency in circulation and also available with the banks. The temporary shortage caused by 'sudden and unusual increase' in some areas is being tackled quickly," Jaitley tweeted.

His tweet came following some reports that ATMs have run out of money in some parts of the country.

Currency shortage was reported in Andhra Pradesh, Telangana and in the past few weeks. There were also complaints of shortage in parts of Maharashtra, and on Monday.

According to Reserve Bank of data, currency in circulation as on April 6 was Rs 18.17 lakh crore.

Industry experts feel the shortage has been caused because of cash hoarding of the Rs 2,000 currency notes.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 12:34 IST