Post the PNB fraud, which came to light in February 2018, the RBI has been tough on banks to tighten all kind of their transactions.
Empty ATMs: No clear reason given for cash crunch but Centre says RBI will ensure adequate supply of currency notes
While it is difficult to trace any specific reason for such massive cash withdrawals this year, analysts say that concerns over the health of banking system has also triggered savers to withdraw cash.
GDP data key highlights: India's economy grows at 7.2% in third quarter; a booster shot for Narendra Modi govt
A strong GDP reading could lift domestic shares, and boost the rupee, which has been Asia’s second weakest currency this year, losing about 1.6 percent against the dollar.