The statement came in response to a news agency reporting on the issue, stating facts that people in Telangana had to return back home empty-handed after going to ATMs to withdraw cash.
A major cash-crunch can be observed in four states namely Madhya Pradesh, Uttar Pradesh, Bihar and Gujarat. Though, many other states have been affected.
As per the central financial regulator RBI, the problem is arising due to high demand during ‘festive’ season. RBI has assured that the same is likely to get resolved with 2-3 working days.
No statement has been issued by the Finance Ministry so far.