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Adequate currency in circulation, temporary shortage to be tackled quickly: FM

Press Trust of India  |  New Delhi 

Jaitley today said there is "more than adequate" in circulation and the temporary shortage in certain states is being "tackled quickly".

There have been reports of shortage in at least six states -- Gujarat, Eastern Mahashtra, Madhya Pradesh, Bihar, and Telangana.

Jaitley said in a tweet that he has 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 demand) in some areas is being tackled quickly," Jaitley said.

Shiv said the government has formed a committee to address the problem of currency shortage in certain states and the issue would be resolved in next 2-3 days.

"The Government has set up state-wise committee and RBI has also formed a committee to transfer currency from one state to other because for money transfer you need the permission of the RBI. It (the shortage) will be solved in 2-3 days," Shukla said.

RBI report show that the currency in circulation in the country has reached the pre-demonetisation level of about Rs 17 lakh crore.

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

First Published: Tue, April 17 2018. 12:35 IST