No currency shortage, printing of notes ramped up: RBI

Prime News, National, Business, Mumbai, April 18:- The Reserve Bank of India (RBI) has assured the public that there is no currency shortage.

“Unusually large cash withdrawals” have lead Automated Teller Machines (ATM) in some places to run out of cash. It has been reported in a section of the media that there is shortage of currency in certain parts of the country. It is clarified at the outset that there is sufficient cash in the RBI vaults and currency chests,” the Central Bank of the country said in a statement here.

It further said that printing of notes has been ramped up in all the four note presses.

RBI also clarified that the “shortage may be felt in some pockets, largely due to logistical issues of replenishing ATMs frequently and the recalibration of ATMs being still underway.”

Further, “as a matter of abundant precaution, RBI is also taking steps to move currency to areas, which are witnessing unusually large cash withdrawals,” it added. –(NGB, Inputs: Agencies)

Leave a Reply



Related Articles