Andhra Pradesh ATMs run dry: Chandrababu Naidu asks Centre for immediate transfer of Rs 5,000 crore cash

Amaravati: Andhra Pradesh chief minister N Chandrababu Naidu has requested the Centre to immediately send currency notes of different denominations amounting to Rs 5,000 crore to the state as ATMs there are facing cash shortage.

The chief minister has sent a letter in this regard to Finance Minister Arun Jaitley and marked a copy of it to RBI Governor Urjit Patel, a CMO official said.

For the last few days, people in different parts of AP are greeted by 'No Cash' boards at bank ATMs, reminding one of the post-demonetisation days. Long queues are seen at a few ATMs where cash is available but only in a limited quantity.

File image of Chandrababu Naidu. Reuters

File image of Chandrababu Naidu. Reuters

Bank officials say the bulk withdrawal of money from savings banks accounts was resulting in the scarcity of currency notes. "Hitherto, people used to keep their money in their savings bank accounts and withdraw in small quantities when required," an assistant general manager of a leading bank here said. "Of late, ostensibly because of the various charges being imposed, people are withdrawing money in one go, leaving us short of cash," the official said.

Thus, banks were unable to feed enough cash into the ATMs. Large crowds were seen at many bank branches with people waiting in queues to withdraw money.

In this backdrop, the chief minister wrote a letter last night to the Union finance minister requesting that Rs 5,000 crore be dispatched to the state to overcome the currency shortage. "Farmers who sold their paddy are unable to get money while pensioners too are suffering. Loan disbursal to women self-help groups is also affected," he said in the letter.

"People are forced to wait for hours to withdraw money from ATMs wherever it is available. In view of this, it is requested that the RBI send Rs 5,000 crore to AP in various denominations," the chief minister said.


Updated Date: Feb 16, 2018 08:23 AM

Also See