Cash shortage shows signs of easing in Patna

  • | Friday | 20th April, 2018

PATNA: Cash crunch in the city eased on Thursday with ATMs dispensing cash and RBI swinging into action to handle the situation. There is no severe cash shortage in banks. “All bank branches and ATMs are getting the required cash remittances. However, the required cash is still not available in some of the bank branches,” Paliwal added.Some bankers said the RBI was reviewing the situation. As of now, cash supply is improving,” Kumar added.General manager of Punjab National Bank, D K Paliwal, said the situation was under control.

PATNA: Cash crunch in the city eased on Thursday with ATMs dispensing cash and RBI swinging into action to handle the situation. Bankers claimed the problem would be resolved within three-four days.Officials at the regional headquarters of RBI said special arrangements were being made to transport cash to areas facing “unusual spurt in demand”.Chief general manager of State Bank of India, Mithilesh Kumar, said cash crisis being faced by some of the bank branches in the city would be resolved soon. “The demand of currency was higher at most places in the state at the beginning of this month due to the marriage season. The withdrawals went up and the deposits went down in the first 15 days of April. The money has to be recycled in order to deal with the shortage. As of now, cash supply is improving,” Kumar added.General manager of Punjab National Bank, D K Paliwal, said the situation was under control. “All bank branches and ATMs are getting the required cash remittances. The situation will normalised in three to four days. Nearly 80% of the vending machines are dispensing cash. However, the required cash is still not available in some of the bank branches,” Paliwal added.Some bankers said the RBI was reviewing the situation. “The crisis will be over soon. There is no severe cash shortage in banks. Ït seems an unnecessary hype has been created. The cash crunch was temporary and southern states were mainly affected,” said the general manager of a public sector bank.The RBI officials said notes in different denominations were available in sufficient amount. “Cash is being transported to the currency chest branches,” they added.

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