Page 2 - Cash Crunch

From 2016 to 2018, life of a Rs 2,000 note; all you need to know

The supply of Rs 2,000 notes has also been reduced substantially since April 2017

Cash crunch: Currency supply fell Rs 150 bn short during April 1-15

The unmet need of cash in the first fortnight of the financial year has potentially caused the cash shortage

Cash crunch: Over 85% ATMs functioning, deposits increase in banks

The situation has improved from Monday when about 60 % ATMs across India were dispensing cash, which went up to around 82 % on Thursday

Ahead of monsoon, rural economy at risk of slowdown over cash crunch

With cash transactions routed through banks taking a hit due to a cash crunch, the rural economy is at the risk of a slowdown ahead of the monsoon. More so in Utar Pradesh, Andhra Pradesh, Telangana, Maharashtra and Gujarat. Post-harvest rabi and pre-kharif loan offtake, typically around April, have been lower by as much as 50 per cent in several states. In southern states, where chit funds are popular instruments for investment in rural areas, defaults have risen. According to bankers, if the cash crunch persists, payments under the Mahatma Gandhi National Rural Employment Guarantee Scheme would be hit."Rural branches in some states are fast running out of cash.If this continues, timely MGNREGS payments might be a problem," said a banker with a public sector institution. "Farmers are facing huge problems in getting loans. For example, at the Amreli cooperative bank in Gujarat, loan disbursements are 90 per cent less than usual. We have written to the Reserve Bank and the finance ...

Cash supply to ATMs improved but cash crunch still persists: Bank officials

Punjab National Bank said cash supply to its ATMs has reached normalcy

How sudden spike in cash demand led to a major cash crunch in many states

These currency stocks should have been adequate for India's average requirements-if Indians had adopted digital transactions

ATM cash crunch: Inactive point of sale terminals to be redeployed

The number of PoS terminals deployed has also stagnated since April 2017 as confirmed by RBI data and industry experts, due to inactivity of existing PoS machines

Cash withdrawal still high across the country, more ATMs functioning

According to the officials, Rs 65-70 billion was the average cash withdrawn from ATMs per day

States with dry ATMs received highest share of currency notes in 2017-18

An RBI official said the supply of currency was adequate in the states facing a crunch at ATMs but the logistic issues led to the present situation

Letter to BS: Crisis at ATMs pushes govt to address demand for cash

The financial system has been in crisis mode right from the day of demonetisation

To beat ATM crisis, withdraw up to Rs 2,000 from PoS machines for free: SBI

SBI today said people in smaller towns can withdraw up Rs 2,000 a day from its PoS machines at retail outlets free of charges, a move aimed at easing cash crunch in some parts of the country. As per the RBI guidelines, the withdrawal limit from PoS machines at retail outlets in Tier 1 and 2 cities per card per day is Rs 1,000 and Rs 2,000 for smaller towns. "For withdrawals up to Rs 2000, @TheOfficialSBI has cash@POS facility @ 4.78 lac POS machines. "Customer can use SBI & any other bank debit card to withdraw cash up to Rs 1,000 in Tier 3 to 6 & up to Rs 1,000 in Tier 1 & 2 cities per card per day presently without any charges," said Neeraj Vyas, DMD (chief operating officer) of SBI in a tweet. SBI has a total of 6.08 lakh PoS machines of which 4.78 lakh are enabled to dispense cash to the customers of SBI as well as other banks which offer this facility. There have been reports of ATMs running dry from Andhra Pradesh, Telengana, Karnataka, Madhya Pradesh, Uttar Pradesh .

Cash crunch: 86% of ATMs working, notes being printed 24x7, assures govt

Such overtime printing was last seen post demonetisation when the printing of new Rs 2,000 notes was fast-tracked to meet the liquidity shortage in the market

Bank employees urge Centre to address cash crunch issue immediately

For the past few weeks, banks in many states have been experiencing an unusual cash crunch and the public is facing innumerable problems

Golden days of ATM over: 5 bank-run ATMs shut every day in India in last yr

Bihar and Andhra Pradesh have the highest numbers of ATMs shut down across India

Poor currency management: Authorities should have anticipated cash demand

In order to speed up the remonetisation process last year, the RBI printed many Rs 2,000 notes

Govt to probe suspected hoarding of Rs 2,000 notes, cash withdrawal spike

The ministry held meetings with top officials of all banks through video conferencing on Tuesday and Wednesday and directed them to fill up ATMs expeditiously

With the ongoing cash crunch, digital money gets another lifeline

As news of no-cash flooded social media sites and news channels, the past 24 hours have seen a surge in people queuing to get the KYC done

From armoured vans to security rooms: The story of cash logistics

On a daily basis, an average cash logistics company transports Rs 50-80 billion worth of cash nationwide

Letter to BS: Anecdotal evidence of lower availability of notes

Think of the consequences if only about 100 million heads of the households out of over 350 million total households

Letter to BS: Plan better to avoid cash crunch and inconvenience

There needs to be an alignment in planning and execution - of the design and printing of notes, to depositing them in the ATMs