Govt assures round the clock printing of currency is on; to do away with cash crunch

may be recalled that ATMs have gone dry in many parts of the country with no exact reason being allotted as to what may have triggered this crisis

The central government once again reiterated that it had ramped up printing of currency notes amid news of cash crunch in many states.

The government also clarified that all four presses for printing of notes are being operated round the clock to do away with any crisis.

It may be recalled that ATMs have gone dry in many parts of the country with no exact reason being allotted as to what may have triggered this crisis.

The government said that the presses are minting out Rs 500 and Rs 200 notes without a break to meet an estimated Rs 70,000 crore of currency shortfall in the country.

It was informed that normally a currency printing cycle is of 15 days.

The RBI also went ahead and stated that there is sufficient cash in its vaults and currency chests.

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 to dispensing smaller sized 200 rupee notes, the RBI had said.

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