September 24, 2020

No more cash shortage: RBI

PATNA: The regional headquarters of the Reserve Bank of India (RBI) in Patna issued a statement on Tuesday claiming that the problem of cash crunch in Bihar and Jharkhand had been resolved and that the supply of currency notes would be increased in a significant manner in the coming days.

Earlier in the month, a large number of automated teller machines (ATMs) in and around the city displayed ‘no cash’ boards and failed to dispense money. The RBI took prompt action to ease the problem of cash crunch on April 18 and claimed that currency notes in all denominations would be made available to currency chests and different bank branches.

On Tuesday, the RBI issued another statement which clarified that sufficient amount of cash was available.

“In order to ensure continuous supply of currency, we are working in coordination with all the banks in the state. The RBI has supplied Rs 12,191 crore in the states of Bihar and Jharkhand from January 1, 2018 till date,” a press statement read.

The RBI also appealed to people not to believe in rumours regarding the shortage of cash in banks or ATMs. According to the bank’s press statement, “The general public should not hoard the currency unnecessarily as it directly affects the deposit in the banks and should opt for digital methods of making payments.”

Various ATMs in different localities like Boring Road, Buddha Marg and Fraser Road were seen dispensing cash easily on Tuesday.

Sudipta Verma, a student standing outside an ATM near the Dakbungalow roundabout, said, “I did not face cash crisis as money was available at most places in the city.”

Courtesy: TNN

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