No currency deficit, more being printed, says RBI

Being moved to high demand areas

Amid the cash shortage reported from several parts of the country, the Reserve Bank of India (RBI) has assured that there is sufficient cash in the central bank’s vaults and in current chests, adding that the situation is being monitored closely.

The central bank also said printing of notes has been ramped up in all the four security note presses and steps are been taken to move currency to areas that are witnessing unusually large cash withdrawals.

Enough in vaults, chests

“It has been reported in a section of the media that there is shortage of currency in certain parts of the country. It is hereby clarified at the outset that there is sufficient cash in the RBI vaults and currency chests. Nevertheless, printing of the notes has been ramped up in all the four note presses,” the RBI said in a statement.

The central bank said the shortage may be felt in some pockets largely due to logistical issues of replenishing ATMs frequently and as recalibration of ATMs is still underway.

Close monitoring

“RBI is closely monitoring both these aspects,” the release said.

“Further, as a matter of abundant precaution, the RBI is also taking steps to move currency to areas which are witnessing unusually large cash withdrawals,” the central bank added.

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