On ATMs not having cash, here is what govt had to say

Regular monitoring of cash availability and ATM functionality has been done by the Government to ensure that sufficient currency notes are made available so that ATMs do not run dry in any eventuality and people do not face any problems

The Government is aware of the newspaper reports that several ATMs have shown no-cash boards.

RBI has informed that the increase in demand for currency recently, which led to high ATM usage, can be attributed to seasonal and structural issues. Seasonal issues include demand for cash in the agriculture sector, and Schemes such as Investment Assistance Schemes for Farmers and Pension Schemes announced by a few State Governments.

Structural issues include economic growth, high currency deposit (CD) ratio in some states, etc.

Regular monitoring of cash availability and ATM functionality has been done by the Government to ensure that sufficient currency notes are made available so that ATMs do not run dry in any eventuality and people do not face any problems.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha today.

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