Demonetization: 600 tonnes and counting, IAF on mission cash lift

In a bid to help the common man with the demonetization process, the government has been pressing the Indian Air Force (IAF) into action. From assisting in the functioning of currency printing presses 24x7 to airlifting cash, the IAF has already transported 610 tonnes of currency and will continue to do so over the next few days.

"The Air Force has played an important role in lifting currency. We have done 35 sorties and transported 610 tonnes of cash till now, said Air Chief Marshal Arup Raha on Wednesday.

"We have also helped in running one of the mints 24x7," he added.

The decision to rope in the IAF was taken about 10 days after Prime Minister Narendra Modi announced demonetization—making old Rs 500 and Rs. 1000 notes illegal and replacing them with new ones.

It is unprecedented for IAF to transport cash which is usually done by train. Sources said since it was an "emergency-like situation" the IAF had been roped in to bring down delays in currency, reaching different centres across the country.

The four currency printing centres are located in Nasik (Maharashtra), Devas (Madhya Pradesh), Mysore (Karnataka) and Salboni (West Bengal). Sources said the employees at the press have been working overtime to meet the cash demands in the country.

From close by airfields in Mysore, Indore, Ozar and Kalaikunda, IAF planes are carrying out sorties almost daily to meet requirements.

"The cash is transported by road to the airfields from where the Air Force transports it to different centre. This is saving time in transportation," said a government official. The aircraft being used for transporting the currency are C 130, C17 and AN 32, sources said.

Once the cash reaches the destination the local authorities take charge.

Sources said initially there was a shortage in currency as the printing machines lacked the capacity to meet the increased demands. The government had announced printing of new Rs. 1000 notes but that has not begun yet.
"While the Rs 2,000 notes and Rs 500 notes are being printed the void left due to non printing of Rs 1,000 note has created a crunch," said a government official dealing with the subject.

Officials privy to the details said out of a total currency requirement of 17.5 lakh crore, Rs 8 lakh crore is expected to be in 500 and Rs 7 lakh crore in 1,000 denominations. "10 per cent of this demand is being met per month," the official added.

The rest of the demand is to be met with other notes including Rs 2,000.