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RBI Hikes Cash Supply By 4 Times, Banks Still Cash – Starved

RBI Hikes Cash Supply By 4 Times, Banks Still Cash – Starved

The Indian Government has decided to scale up the printing of new Rs. 500 Notes as cash crunch at bank branches expected to persist on Thursday also. The scaling up of printing process of elusive new notes is expected to ease the situation in the next few days.

Banks across the country are at the brink of huge cash shortages and even face total running out of money early in the morning on Wednesday. As Industry data shows, the cash supply was sharply reduced and private banks had a tough time dealing with cash shortage.

According to sources currency printing presses, two owned by RBI and two government owned, have started working three shifts as compared to two shifts earlier.

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