Tuesday, 24 April, 2018

Jaitley reviews cash-crunch situation, calls it 'temporary shortage'

Reports of cash crunch pouring in from different states as ATMs go dry Reports of cash crunch pouring in from different states as ATMs go dry
Preston Stone | 17 April, 2018, 14:19

The cash in circulation-to-GDP ratio before demonetisation stood at 11.6% and it has declined to 10.7% at present, said the BS report.

Finance Minister Arun Jaitley took to micro-blogging site Twitter to assuage concerns over currency shortage.

Also, he mentioned that some states may be having more currency while some may be having less currency and that the sudden withdrawal may be since people may have increase the cash withdrawals and so some of the states may have less currency than the others. The government has formed a state-wise committee and RBI also formed a committee to transfer currency from one state to other. "It'll be done in 3 days", SP Shukla said.

The Finance Ministry said in a statement: "There has been unusual spurt in currency demand in the country in last three months". As opposed to an average demand of about Rs 20,000 crore a month, "in the first 13 days of April itself there was a demand of Rs 45,000 crore", he said. "We print about 500 crore Rs 500 notes a day", SC Garg, the secretary of the Department of Economic Affairs, told ANI.

"But demonetisation is one-and-a-half years earlier. if we had taken that growth path, we would had still been much higher". "Modi Ji has destroyed the banking system". "Nirav Modi fled with Rs 30,000 crore and the prime minister did not utter a word. RBI has been given an indent to increase the flow of Rs 500 notes in the system", he said. More cash is supposed to be in play as campaigning warms up further.

According to the manager of nationalised bank in the city who wished to remain anaonymous, confirmed to CityToday that there was a cash crisis following short supply of money from the currency chests.

Immune therapy key to extending lung cancer patients' lives
Rates of serious side effects were similar, but twice as many in the Keytruda group dropped out because of them. One Yale patient who has survived for eight years took the drug for two years and has remained well ever since.

Soon after reports of cash-crunch across the country, Jaitley tweeted, "Have reviewed the currency situation in the country". The NSUI workers showed protest against Acche Din claims of Bhartiya Janata Party led Union Government. There might also be some sort of a feeling in some people that if the cash runs out, why not keep it in reserve so it may be safe. a kind of "shortage mentality".

However, this time, reports say that the cash crunch was a knee-jerk reaction to the latest Financial Resolution and Deposit Insurance (FRDI) Bill, being tabled in parliament. Since Tuesday morning, similar reports started emerging from different parts of the country, following which the finance minister issued a statement. Last week, the Finance Ministry held a meeting with the RBI officials to ensure that there was no large-scale hoarding of cash which might set in panic among people.

He added that there was adequate currency in circulation and with the banks and that the situation would be tackled quickly.

ATMs running dry again?

On Monday, Chief Minister Shivraj Singh Chouhan said in Shajapur: "It is a conspiracy".

"We have cash currency of Rs.1,25,000 crores right now". Apart from this, the highest denomination Rs 2000 notes is short in supply in some states. When demonetisation was announced in 2016, there was Rs 15.50 lakh crore in circulation in the market.

Recommended

  • Avenfield case: Maryam's lawyer completes cross-examination of JIT head

    Avenfield case: Maryam's lawyer completes cross-examination of JIT head

    He pointed out that Article 68 even prevented Parliament from criticising the judiciary and its decisions. Safdar was present in the court for the hearing.
    Pete Lau shares camera samples from OnePlus 6

    Pete Lau shares camera samples from OnePlus 6

    At first glance, the pictures look pretty good, though we'll provide out final verdict only after we get to review the OnePlus 6. This indoor image showcases decent ability by the OnePlus 6 to capture detail even in relatively low-light, without much noise.
    VAR penalty awarded in Germany after players left pitch

    VAR penalty awarded in Germany after players left pitch

    Mainz and Freiburg are 15th and 16th in the table respectively so the decision carried added weight in a relegation six-pointer. Mainz 05 and Freiburg's players are forced to cut their half-time interval short after VAR awards a penalty during the break.
  • Luca Maestri Sells 39122 Shares of Apple (AAPL) Stock

    Luca Maestri Sells 39122 Shares of Apple (AAPL) Stock

    They issued a "buy" rating and a $235.00 target price for the company. (NASDAQ: AAPL ) on Friday , February 2 with "Buy" rating. The rating was maintained by Bank of America on Thursday, January 19 with "Buy". (NYSE:POST) was bought by VITALE ROBERT V.
    Trump Campaign Continues Big Spending On Lawyers

    Trump Campaign Continues Big Spending On Lawyers

    Trump's campaign has also spent about $150,000 at Trump businesses, including the legal fees, per the FEC report. But legal fees weren't the only big expense: About $650,000 went toward campaign gear such as hats and mugs.
    Sacked FBI boss lays into Trump in TV interview

    Sacked FBI boss lays into Trump in TV interview

    First, I have no doubt that Trump is very sincerely confounded at Comey's ability to grab the spotlight. As explosive as this interview was, it's Conway who's in the limelight this morning.
  • California won't participate in United States  border security operation

    California won't participate in United States border security operation

    Other Republican governors not located on the border have also said they would support the effort with troops including Iowa Gov. Trump wants to send up to 4,000 troops to the border and has commitments for about 2,400 from those states and California.
    Gas prices go back up in Baton Rouge after one week reprieve

    Gas prices go back up in Baton Rouge after one week reprieve

    The increase is the result of ongoing tension in the Middle East offsetting USA crude oil production and inventory. As tensions mount following weekend USA missile attacks in Syria, gas prices jumped up quickly across the nation.
    Microsoft Corporation (MSFT) Recent Ownership Changes

    Microsoft Corporation (MSFT) Recent Ownership Changes

    It dropped, as 39 investors sold MSFT shares while 1012 reduced holdings. 134 funds amassed positions and 676 increased positions. The Colorado-based Public Employees Retirement Association Of Colorado has invested 0% in Connecticut Water Service, Inc.
  • Senator calls for FAA investigation of Allegiant Airlines safety record

    Senator calls for FAA investigation of Allegiant Airlines safety record

    Some also received a comment from Allegiant indicating officials would be willing to discuss any concerns in a private forum. Martini is not the only passenger who was upset by the information she learned in the 60 Minutes interview.
    Amazon.com, Inc. (AMZN) is National Pension Service's 4th Largest Position

    Amazon.com, Inc. (AMZN) is National Pension Service's 4th Largest Position

    Alleghany Corp decreased its stake in Amazon Com Inc (AMZN ) by 0.44% based on its latest 2017Q4 regulatory filing with the SEC. This organization's stock showed a trading volume of 3.63 million shares, compared to its average daily volume of 6.36M shares.

    Syria: missiles fired at air base near Homs

    Those attacks were retaliation for a suspected chemical weapons attack that they blamed on the Syrian government. Syrian news agency SANA stated that "Syrian air defense shot down missiles which violated airspace over Homs".

PM Modi reaches Sweden, will attend India-Nordic Summit PM Modi reaches Sweden, will attend India-Nordic Summit Modi's hectic day of meetings began with his reception by His Majesty the King, with Crown Princess Victoria present, at 1p.m. While returning from Britain on April 20, he will stop over in Germany where he will a meet German Chancellor Angela Merkel.

Scientists Create Enzyme That Eats Plastic Bottles Scientists Create Enzyme That Eats Plastic Bottles Now the researchers are trying to improve the new enzyme so they can put it to work eating up all the plastic out there. The research team can now apply the tools of protein engineering and evolution to continue to improve it.

Government apologises for treatment of 'Windrush generation' of migrants Government apologises for treatment of 'Windrush generation' of migrants In the Commons on Monday, Ms Rudd acknowledged the Home Office had become "too concerned with policy and strategy" at the expense of the individual.

Ed Sheeran in Talks to Join Danny Boyle's Beatles-Themed Musical Comedy Ed Sheeran in Talks to Join Danny Boyle's Beatles-Themed Musical Comedy Notting Hill and Love Actually's Richard Curtis will reportedly write the movie, while Trainspotting's Danny Boyle will direct. The plot will be built around a street musician who discovers that he is the only one in the world remembers the Beatles song.

CBI gets Unnao rape survivor's statement recorded in court CBI gets Unnao rape survivor's statement recorded in court The first FIR pertains to the alleged rape of the girl in which Sengar and Shashi Singh have been named as accused. After a massive public outrage over the inaction of the UP police, the case was handed over to the CBI on April 12.

Man charged with rape, sexual assault in Ambler Man charged with rape, sexual assault in Ambler Sonoma County sheriff's detectives are seeking help in solving a sexual assault, beating and robbery of a San Francisco woman. Likewise, little was released about the suspects, but the victim said they spoke a language she did not understand.

Russian Federation accused of hijacking routers around the world Russian Federation  accused of hijacking routers around the world For owners, they're asked to ensure network devices are up-to-date, change default passwords, and ensure the firmware on the device is from a trusted source.

Wade the catalyst as Heat beat 76ers Wade the catalyst as Heat beat 76ers Johnson followed up his 13-point Game 1 performance with 18 points (7 of 7 shooting), seven rebounds and five assists on Monday. The Heat began applying fullcourt pressure and didn't allow the Sixers much room to operate at all on the three-point line.

Vidor woman exposed her children, ages 3, 2, to meth Vidor woman exposed her children, ages 3, 2, to meth Even after she stopped seeing him completely, she still didn't think seriously about filing charges, she said. Comiskey rang emergency services and said she and Pezillo were asleep and when they woke up Mr Quinn was dead.

West Ham substitute Carroll snatches late draw against Stoke West Ham substitute Carroll snatches late draw against Stoke Carroll, who came in as a late substitution, brilliantly volleyed home a ball from Aaron Cresswell in the 90th minute. West Ham United's Andy Carroll celebrates after scoring the equaliser against Stoke City , April 17, 2018.

President Trump hits out at Russian and Chinese currency devaluations President Trump hits out at Russian and Chinese currency devaluations The government, however, said evacuations from Douma were ongoing and no Syrian government forces had entered the town. Russia's theories about last Saturday's suspected chemical attack are reminiscent of previous contradictions.

Post Office collection times for tax day Post Office collection times for tax day Chili's - If the tax bill was painful this year, Chili's is offering a $5 Cuervo Blue Margarita to help wash away the pain. This is valid Tuesday through Thursday when you show this coupon .

Woolworths supermarkets hit by IT outage Woolworths supermarkets hit by IT outage Registers have reportedly shut down at all Woolworths stores across Australia due to a technical outage. ZDNet understands the glitch didn't make its way to all stores, however, with some operating as usual.

Secrets behind resignation of 3 IEBC commissioners Secrets behind resignation of 3 IEBC commissioners All of which are against the laid down laws that govern the conduct of the commission leadership and staff", they added. The trio further disclosed that the decision to suspend Chiloba was made in absence of some of the Commissioners.

All Lawyers 'Deflated' By FBI Raid On Michael Cohen All Lawyers 'Deflated' By FBI Raid On Michael Cohen Hannity, who has been unwavering in his support of Trump, said Cohen has never represented him in a case involving a third party. While in court, she smiled several times as she observed the proceedings from a folding chair near the back of the room.