UNUSUAL SPIKE IN DEMAND FOR CURRENCY
> Several parts of Andhra Pradesh, Telangana, Madhya Pradesh, Bihar and Karnataka have reported shortage of currency and ATMs running down.
> The government said the sudden and unusual increase in demand has led to temporary shortage and is being tackled quickly.
> To meet the ‘unusual’ currency demand in the country, the government has decided to increase printing of Rs500 notes by five times.
> The government will have a supply of about Rs25 billion worth of Rs500 notes per day. In a month, supply would be about Rs700-750 billion.
A man showing ‘out of cash’ slip near ATMs in Patna. —