Cash Crunch is temporary shortage : Arun Jaitley

rp_arun-jaitely-1-300x237-1-300x237-300x237-1-300x237-300x237-1-300x237-300x237-1-300x237-1-300x237-300x237.jpgUnion Finance Minister Arun Jaitley called the cash crunch in the country as a ‘temporary shortage’ and assured that the situation is being tackled quickly.

He said He has reviewed the currency situation in the country. Overall there is more than the adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ in some areas is being tackled quickly.

While Many ATMs saw ‘out of service’ in Hyderabad and AP, locals say, ‘have been taking rounds of ATMs since last three days but cash is still not available. They are facing a lot of inconvenience in this heat.

Telangana’s Minister K.T. Rama Rao tweeted that the problem is neither sudden nor temporary.

“Sir, with due respect the cash shortage in Banks & ATMs is neither sudden nor temporary. I’ve been hearing complaints for over 3 months repeatedly in Hyderabad Pls have RBI & Fin Min team dig deeper & not brush away an issue that is eroding people’s confidence in the banking system,” tweeted Rama Rao,
“It’s very sad that, Hon’ble Finance Minister @arunjaitley ji is not understanding the reality, and saying every thing is good. AP is facing severe cash crunch. AP Govt is not able to even give the pensions and pay to MGNREGS workers,” Lokesh tweeted.