Government and RBI have taken all steps to meet unusual demand of the currency Adequate reserves of currency to meet the rising demands Non Functional ATMS to be normalized soon
There are reports of cash shortages and some ATMs running dry of cash or becoming non-functional in some parts of the country.
There has been unusual spurt in currency demand in the country in last three months. In the current month, in the first 13 days itself, the currency supply increased by Rs.45000 crores. This unusual spurt in demand is seen more in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar.
The Government of India with the Reserve Bank of India have taken all steps to meet this unusual demand. We had adequate reserves of currency notes which have been used to meet fully the extraordinary demand generated so far. We continue to have in stock adequate currency notes of all denominations, including of Rs.500, 200 and Rs.100 to meet any demand.
The Government would like to assure all the people that there have been adequate supply of currency notes which have met entire demand so far. The government would also like to assure that it would be supplying adequate currency notes to meet even higher levels of demand if such demand were to continue in the coming days/months.
The Government is taking all steps to ensure that ATMs are supplied with cash and to get non-functional ATMs normalised at the earliest.
Press Release by MoF
AO stating that material forming basis of reopening shall be disclosed at the stage of assessment/re-assessment, indicates that the AO…
Reopening conclusion that assessee was “Non-Filer” despite assessee clearly stating in reply that he had filed ITR was non-application of…
High Court declined to allow production of physical documents by in Faceless Assessment simply because they were voluminous In a…
The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information - ITAT In a…
Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges…
Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a…