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ATMs in Hyderabad fall short of Rs 2000 notes ahead of Lok Sabha elections
- ATMs in Hyderabad fall short of Rs 2000 notes
- Rs 500 and Rs 100 denomination notes are available.
A week ahead of Lok Sabha elections in Telangana, ATMs in Hyderabad fell short of Rs 2000 notes and only Rs 500 and Rs 100 denomination notes are available. Many ATMs are said to be either running dry or providing the notes of low denominations fearing of the political parties stocking up the higher denomination, says public.
Meanwhile, Rs 2000 notes were seen in large amounts in currency seizures by the enforcement officials and police.
The shortage of the notes is largely felt by the people when withdrawing the larger amount of money in the first week of the month soon after the salaries are credited.
However, the circulation of Rs 2000 notes was decreased compared to last year, according to the RBI data. As of March 2017, there were 3,285 million notes of Rs 2000 in circulation but in March 2018, there was only a slight increase with 3,363 million notes in circulation.
