Cash crunch resurfaces in Telangana

Several parts of India is witnessing a cash crunch with states including Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh and Telangana reporting that the situation has become worse.

In Telangana, people complained that they are unable to withdraw cash from ATMs in several parts of the state since Monday.

Office goers in Hyderabad told news agency ANI, “We have been unable to withdraw cash from ATMs as the kiosks (ATM Kiosk), in several parts of the city, have run out of cash. We have visited several ATMs since yesterday but it is the situation everywhere”.

The cash situation plummeted so much in Andhra Pradesh and Telangana last month that the banks got cash transferred from Odisha and Tamil Nadu. 

The Finance Ministry has reportedly conducted a meeting with the Reserve Bank of India to take a stock of the situation.