No Indian can forget about the massive ache November 8th, 2016 brought to the people of this country. Everyone lauded the move at first but soon the problems started emerging from the move, one of which was a shortage of cash in ATM. People were standing in long and excruciating lines to take their money out of their own bank accounts, and it was nothing short of a work in itself. But, with time the life and cash in ATM went back to normal.
However, the cash crunch problem has risen again. ATMs at several parts of the country have become either non-functional or are running dry. People are struggling to get their money out of their banks again and as soon as the issue started getting into the tabloids and news, Arun Jaitley tweeted on the issue. He tweeted, “Have reviewed the currency situation in the country. Overall, there is more than the adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ in some areas is being tackled quickly”.
Have reviewed the currency situation in the country. Over all there is more than adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ in some areas is being tackled quickly.
— Arun Jaitley (@arunjaitley) April 17, 2018
Ministry of State for Finance, SP Shukla, even came forward and stated the reason behind the shortage. He said that cash crunch problem is because some states have low currency reserves in comparison to others. Shukla also said, as reported by the Indian Express, that the issue would be resolved within three days.
But all of these explanations and problems can’t resolve the struggles people are facing in terms of the cash crunch. Here is how Twitterati reacted to the cash crunch struggle.
There used to be dry days for alcohol. Now there are dry days for cash. #CashCrunch
— Chetan Bhagat (@chetan_bhagat) April 17, 2018
Another week with bad headlines for the BJP with #CashCrunch, after #Kathua and #Unnao which was after #SCSTAct. Bad times for the BJP. Bura Waqt. All those fundamentalists, pray harder you guys.
— Chetan Bhagat (@chetan_bhagat) April 17, 2018
We Are Charged With Money When We Fail To Maintain Minimum Balance In Our Account, Why Shouldn't The Same Logic Apply On Banks When They Fail To Supply Us Cash Through ATMs? After All It's Our Money. #CashlessATMs #CashCrunch
— Sir Jadeja fan (@SirJadeja) April 17, 2018
Bhakt Whatsaap forward :#CashCrunch is due to Finance Minister Arun Jaitley being seriously ill and admitted to hospital. We need to understand this and don’t just complain. Once he is back cash will be available!!
Mother of God.. these ppl🙄🙄@sanjayuvacha
— IIIIIIIIII (@_NairFYI) April 17, 2018
How Modi Destroyed India's Banking System
-Disaster of Demonetisation & Notebandi Scams benifitted BJP
-Gross NPA's increased by 5.8 LakhCr under Modi
-13+ Banking Scams where frauds fled after fleecing Rs 61000Cr
-Banks given additional work as Aadhaar-JanDhan
– Now #CashCrunch
— Rachit Seth (@rachitseth) April 17, 2018
Seeing reports of ATMs running out of cash in several States. Big notes missing. Reminder of #DeMonetisation days. Is there a Financial Emergency going on in the country? #CashCrunch #CashlessATMs
— Mamata Banerjee (@MamataOfficial) April 17, 2018
This temporary #CashCrunch will be resolved with Government forming state-wise committees & RBI transferring currency from one state to states where crunch being experienced.. BUT it does indicate that demand has increased due to growth in manufacturing & agri sectors 3/n
— Shehzad Jai Hind (@Shehzad_Ind) April 17, 2018
900,000 crore in NPAs
15000 cr in NPA recovery against claim of 400,000 crores
100,000 cr in financial scams like #NiravModi #MehuChoksi
& now #CashlessATMs resulting in #CashCrunch
Even Santa & Banta would have done a better job of managing the economy then these two jokers. pic.twitter.com/W5oPK8tFlI
— My Fellow Indians (#TeamBaan) (@MyFellowIndians) April 17, 2018
There is no #CashCrunch!Had it been so,overnight #callmoney rates,rates at which short term funds are borrowed or lent within the banking system,would have shot up dramatically,but they have NOT!Call money rates have been very benign at 5.8-6%!Vicious narrative peddled by quacks!
— Sanju Verma (@Sanju_Verma_) April 17, 2018
As the ATMs across the country go dry, people are in trouble because of shortage of currency … Modi government has ruined the Banking system of the country and People have lost their faith in it. #CashCrunch
— Ashok Gehlot (@ashokgehlot51) April 17, 2018
You mean Nirav Modi carried Rs 30,000 crores in Rs 2K notes. How many aeroplanes did he charter to carry the cash? #RahulGandhi #CashCrunch #CashlessATMs
— GhoseSpot (@SandipGhose) April 17, 2018
Dear Finance Minister,
Cashless Economy does not mean Cashless Banks and Cashless ATMs.
We hope you understand. 🙏#CashCrunch #CashlessATMs
— Kanhaiya Kumar (@kanhaiyakumar) April 17, 2018
The 'sudden' #CashCrunch in many parts of India is just temporary. Is it likely that the central Govt is flooding Karnataka with cash to keep the BJP candidates loaded?
Just WHERE DID THE MONEY GO?
— Gaurav Pandhi (@GauravPandhi) April 17, 2018
Are ATMs around you also running dry? Tell us.