UN­USUAL SPIKE IN DE­MAND FOR CUR­RENCY

Khaleej Times - - INDIA -

> 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.

PTI

A man show­ing ‘out of cash’ slip near ATMs in Patna. —

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