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  1. Cash crunch in Uttarakhand? ‘No Cash’ signs seen at ATMs, locals say ‘feels like demonetisation again’

Cash crunch in Uttarakhand? ‘No Cash’ signs seen at ATMs, locals say ‘feels like demonetisation again’

Days after a shortage of cash at ATMs in as many as six states including Andhra Pradesh, Telangana, and poll-bound Karnataka, triggered a nationwide panic last month, the situation of ATMs going dry is now believed to have reached the northern state of Uttarakhand.

By: | Rudraprayag | Updated: May 3, 2018 4:16 PM
Several ATMs in the city of Rudraprayag saw signages that read: 'No Cash' or 'Cash Nahi Hai'. Several ATMs in the city of Rudraprayag saw signages that read: ‘No Cash’ or ‘Cash Nahi Hai’.

Days after a shortage of cash at ATMs in as many as six states including Andhra Pradesh, Telangana, and poll-bound Karnataka, triggered a nationwide panic last month, the situation of ATMs going dry is now believed to have reached the northern state of Uttarakhand. As per reports by news agency ANI, several ATMs in the city of Rudraprayag saw signages that read: ‘No Cash’ or ‘Cash Nahi Hai’.

As per initial reports, as many as 15 to 20 bank ATMs are devoid of any cash. This is not only a matter of concern for the locals but even for tourists visiting the city who are facing trouble due to the cash crunch, say locals.

For the locals, ATMs with no cash comes as a shrill reminder of the troublesome days of demonetisation in November 2016. “Feels like demonetisation days all over again,” ANI quoted one of the locals as saying.

When cash crunch had hit ATMs across several states last month, Finance Minister Arun Jaitley had termed it as a “temporary shortage” in certain states that was being “tackled quickly”. He had stressed that there is “more than adequate” currency in circulation. On ATMs going dry, the Economic Affairs Secretary Subhash Chandra Garg said that the government will step up printing of Rs 500 notes by five times in order to meet an “unusual spurt” in demand for cash.

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