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RBI ramps up printing of currency notes

Press Trust of India  |  Mumbai 

The Reserve today said there is no shortage of currency in the system even though it has ramped up of notes at its four presses.

The RBI, however, said there may be shortages in "some pockets" largely due to logistical reason.

"It is clarified at the outset that there is sufficient cash in the RBI vaults and currency chests. Nevertheless, of the notes has been ramped up in all the four note presses," it said in a statement.

The statement has come amid reports that several states, including Andhra Pradesh, Karnataka, Uttar Pradesh, and

The RBI said shortage "may be felt" in some pockets largely due to logistical issues of replenishing ATMs frequently and the recalibration of ATMs being still underway.

"RBI is closely monitoring both these aspects," the said.

Further, as a matter of abundant precaution, RBI said it is also taking steps to move currency to areas that are witnessing unusually large cash withdrawals.

Earlier in the day, had assured people that there was no shortage of currency as adequate stocks were available.

The in said of the 500 currency note is being increased by five times from Rs 500 crore a day to Rs 2,500 crore a day.

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

First Published: Tue, April 17 2018. 19:55 IST