ATMs in several cities across the country, operated by both state-run and private backs, are reportedly running dry. The problem seems to have affected ATMs in cities and towns across Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh, according to media reports.
One reason for this could be that cash withdrawals at some bank branches and their ATMs are much higher than deposit made at those branches.
An email sent to the Reserve Bank of India (RBI), on Tuesday, seeking response on the reported cash shortage remained unanswered when this report was published.
" News18 (@CNNnews18) April 17, 2018
Troubled customers tweeted about the non availability of cash at ATMs.
Cash Crunch Realty check One of the most busiest place Paharganj - ICICI ATM now allowing withdrawal more than 4000, PNB all 2 ATMs have no cash, Bank of Baroda has No cash. Kotak & Bank of India dispensing cash. pic.twitter.com/GXACVDs3UR " ASHUTOSH MISHRA (@ashu3page) April 17, 2018
Jharkhand is facing severe cash crunch. Most of the ATMs are not working since 15 days now. No one knows where has all the cash gone.
Neither FM nor PM is available. No one in Govt willing to tell where has all 2000 and 500 notes gone. https://t.co/16QHQ592tb
" Dr Ajoy Kumar (@drajoykumar) April 17, 2018
Communist Party of India member Sitaram Yechury too took to twitter to express his angst.
ATMs were empty in November 2016. ATMs are empty now. And the only party flush with cash is the BJP: the people suffer. " Sitaram Yechury (@SitaramYechury) April 17, 2018
Govt takes note
Meanwhile, Minister of State (MoS) Finance S P Shukla said, "We've cash currency of Rs 1,25,000 crore right now. There is one problem that some states have less currency and others have more. Government has formed state-wise committee and RBI also formed committee to transfer currency from one state to other. It will be done in three days."
We've cash currency of Rs1,25,000 cr right now. There is one problem that some states have less currency&others have more.Govt has formed state-wise committee & RBI also formed committee to transfer currency from one state to other. It'll be done in 3 days: SP Shukla, Mos Finance pic.twitter.com/Xm4b4NhMqu
" ANI (@ANI) April 17, 2018
Several states have faced cash shortages despite the fact that currency flows are now at the pre-demonetisation level. A recent analysis by the RBI has found that the rate of cash withdrawal was far more than the cash deposits in banks in states such as Andhra Pradesh, Bihar, Karnataka, Maharashtra, Rajasthan, Uttar Pradesh, Madhya Pradesh, and Telangana, according a report in the Business Standard.