[New Delhi]Dysfunctional ATMs: Parliament Panel Nudges RBI to Fix Problem
A parliamentary panel has asked the Reserve Bank to address the problem of perpetually dysfunctional ATMs so as to avoid any situation of forced cash crunch.
The Standing Committee on Finance has also asked banks to install adequate number of ATMs. The panel tabled its report in Parliament last week.
As per a data of RBI, there were
2,21,492 Automated Teller Machines (ATMs) in the country as at September-end 2018.
These include
1,43,844 ATMs of public sector banks,
59,645 ATMs of private banks and
18,003 of foreign banks,
payments banks, small fiance banks and White Label ATMs (WLAs), which are owned and operated by non-bank entities.
The panel headed by senior Congress leader M Veerappa Moily also noted that RBI’s remonetisation drive has not augmented/resolved the cash supply to ATMs in rural/semi-urban areas, forcing shutdown of many ATMs.
File Photo
Tag: ATMs Dry
Dysfunctional ATMs: Parliament Panel Nudges RBI to Fix Problem
Govt Has Adequate Cash,ATMs Dry,FM Tweets Early Cure
Finance Minister Jaitely
Finance Minister Arun Jaitley today said there is “more than adequate” currency in circulation and the temporary shortage in certain states is being “tackled quickly”.
There have been reports of currency shortage in at least six states —
Gujarat,
Eastern Mahashtra,
Madhya Pradesh,
Bihar,
Andhra Pradesh and
Telangana.
Jaitley said in a tweet that he has reviewed the currency situation in the country.
Minister of State for Finance Shiv Pratap Shukla said the government has formed a committee to address the problem of currency shortage in certain states and the issue would be resolved in next 2-3 days.
RBI report show that the currency in circulation in the country has reached the pre-demonetisation level of about Rs 17 lakh crore
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