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Cash Crises in India :What suddenly Has Happened


Today there was a News on each and very newspaper, website stating that there is a cash crises which has again hit India after the demonetisation of 2016. from last 2 weeks many of the ATM's in the various states of India this news came and infect last week i also faced this same situation in some ATM's but that can be a coincidence but this became a big news when 6 states of India Gujarat, Maharastra, Madhya Pradesh, Telengana , Andhra Pradesh and Telangana was also hit by this crises but today when this story broke that there is cash shortage in many of the ATM'S in both big and small cities are also facing this shortage people gets shocked and again on many ATM's people gathered to withdraw the currency and this scene was like the DeMO era of year 2016 and some are even saying that DeMo is coming back. 

 Although the Mr Arun Jaitely, Finance Minister of India tweeted on his Twitter Account that there is no scarcity of cash and there is a surplus of cash is present in the market according some reports and just due to un-expected demand of cash this situation has arisen in some parts of nation which will be taken care off. Meanwhile a bureaucrat Rajiv Kumar gave a statement to a Indian News Channel in which he said that 85% ATM's have cash right now and 10-12% machines are under maintenance and when they asked him that why this situation is there if there are so many ATM's are working he stated that every year in the month of march the demand for currency increases and there are 3 reasons for this  
1 Purchase of Raw materials by the farmers for producing the new crops which is started in the month of April and may
2 Financial Closure by the Companies at the end of the Financial year
3 Marraige season 

 Finance Ministry has asked one week to solve this issue i am sure that people will do something but at this same moment many government banks are coming forward to give clarifications for this issue
Now there is a political angle which came and that is Shiv Raj Singh Chauhan CM, Madhya Pradesh said that there is a conspiracy behind this but his finance minister Mr. Jayant said that the main reason is the purchase of Raw materials by the farmers which was also stated by the Banking Secretary but the opposition is very active on this issue and attacks Prime Minister even Mr. Rahul Gandhi President, Indian National Congress said that PM destroyed the Banking sector of India 

 What is the real picture in ATM's in MP state

 Banks are saying that there are approx 9602 ATM's are there in state in which 4-5% are not working and there is 228 currency chest in the state in which there are Rs 3758 crore Rs approx are present in banks there is 3000 crore rs is present and 500 crore rs is in the ATM's and RBI has 3500 Crores means more than 10,000 crores which is sufficient for the state but still problem is there so what is there on Ground no one knows.

 For last 15 days India is facing this situation then why no decision was taken at that time when the financial authorities are aware that what cash means in India this is a big question which should be asked to these literate people but at  this moment waiting for a a week is not a bad deal for some but for some it is a loss case like businessman who have faced this same issue in past as well. 

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