Congress president Rahul Gandhi on Tuesday held Prime Minister Narendra Modi directly responsible for the cash crunch
Amid the reports that ATMs are running low on cash in several parts of the country, Congress president Rahul Gandhi on Tuesday held Prime Minister Narendra Modi directly responsible for the situation.
The Congress chief, who is on a three-day visit to Amethi and Raebareli in Uttar Pradesh, said the cash crunch is happening because Modi has "destroyed the banking system."
Rahul alleged that Nirav Modi fled abroad with Rs 30,000 loan of banks but the Prime Minister did not take any action.
"Nirav Modi fled with Rs 30,000 crore and PM didn't utter a word. We were forced to stand in queues as he (PM Modi) snatched Rs 500 and Rs 1000 notes from our pockets and put them in Nirav Modi's pocket," Mr Gandhi said in Amethi.
"The country is facing the cash crunch as Modi has destroyed the banking sector by waving off huge debts to the tune of Rs 2.5 lakh of 15 top rich businessmen in the country," he alleged.
“His government and its policies are for the rich people and not poor of the country. It was due to this reason, poor, farmers, and oppressed classes remained neglected during his regime," he added.
Later in a tweet, Rahul again attacked the Modi government.
Recently, the cash situation has deteriorated across India. Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Monday claimed that Rs 2,000 notes were vanishing from the market, and alleged that there was a "conspiracy" behind it.
Andhra Pradesh has cited non-release of funds by the Centre as one reason for the cash crunch.
With ATMs running dry, people are being reminded of the demonetization days.
Andhra Pradesh, Telangana, Madhya Pradesh, Bihar and Gujarat are some of the states where people are complaining about ATMs going out of cash.
Banks in Gujarat said they were not getting enough cash from the Reserve Bank of India, complaints started emerging about ATMs going dry. Complaints started coming in from small towns like Unjha and Jamnagar. Businessmen and farmers are the worst hit as the trading cycle has been affected adversely.
Meanwhile, Finance Minister Arun Jaitley took to Twitter to assure that there is no cash crisis.
"Have reviewed the currency situation in the country. Overall there is more than the adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ in some areas is being tackled quickly," Jaitley tweeted.
The State Bank of India has cited payment to farmers during procurement season one of the reasons for cash crunch.
"In the next week, things will start coming back to normalcy. There is a department which monitors situations like this. This is not new. RBI has been given an indent to increase the flow of Rs 500 notes in the system: Rajnish Kumar, SBI Chairman, told ANI.
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