With the cash crunch prevailing in ATMs all over India, SBI has announced its latest press release that there is a cash deficit of more than 70000 crores in the country. For the past few days, there has been huge deficit of money in ATMs in different parts of the country, and this has shocked the common public, who had to roam around to get money they needed, and faced extreme difficulties.
However, when Reserve Bank of India was asked an opinion of the same, it had said that the country has enough money resources, and this is just a short term issue which will get resolved soon by it. In such a scenario, the State Bank of India has released a report.
Based on an analysis, and it has
said that the economic growth of the nation has changed from 2017-18 financial
year's 10.8% to a drastic reduction of 9.8%. The money availability has
also reduced from 19.4 lakh crores to 17.5 lakh crores post demonetization, and
in this shortage, 1 crores 20 lakhs worth money is in E transactions. SBI
Has also revealed that there is a shortage of 70000 crores of cash in the
country.
