Discover and read the best of Twitter Threads about #cashcrunch
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As Government and RBI now endorsed that there is a #CashCrunch, many theories are floating in the air about the reasons for the same.
@scroll_in published 15 theories about why we are facing a cash crunch now.
So let me float my own theory and examine some of the theories too!
@scroll_in published 15 theories about why we are facing a cash crunch now.
So let me float my own theory and examine some of the theories too!
One of the theory is that there is an unprecedented spur in withdrawal of the money from the banks. Also people refuse to deposit money in the banks.
Many factors are attributed for this theory; starting from the scary FDRI bill to Chota Modi Scams to Minimum balance looting..
Many factors are attributed for this theory; starting from the scary FDRI bill to Chota Modi Scams to Minimum balance looting..
First examine, whether there is an unprecedented withdrawal from the banks for the last couple of months?
Let's see RBI data on withdrawal of currency through ATMs,, we have published data up to Feb 2018.
Do you see any spur here?
I am not seeing anything abnormal here!
Let's see RBI data on withdrawal of currency through ATMs,, we have published data up to Feb 2018.
Do you see any spur here?
I am not seeing anything abnormal here!
Relax and look at the data.
India withdraws ₹2.4 to 2.5 lakh crores every month from ATMs alone. What is so big about 45K cores in 3 weeks then?
India withdraws ₹2.4 to 2.5 lakh crores every month from ATMs alone. What is so big about 45K cores in 3 weeks then?
India withdrawn ₹2.64 lakh crores from ATMs using debit cards in the month of December 2017.
In October 2016, this was ₹2.55 lakh crores & during Nov 2016 & Dec 2016 it was ₹1.23 lakh crores & 0.85 lakh crores. But it jumped to ₹2.26 LC in March 2017.
In October 2016, this was ₹2.55 lakh crores & during Nov 2016 & Dec 2016 it was ₹1.23 lakh crores & 0.85 lakh crores. But it jumped to ₹2.26 LC in March 2017.
Of course, elections naturally increase cash demand. But don't blame that alone for the #cashcrunch.
RBI failed to circulate enough currency needed in the system & hope they may do a course correction.
As per latest statistics as on 6/4/18,CIC is ₹18.425 LC, which is 1LC less!
RBI failed to circulate enough currency needed in the system & hope they may do a course correction.
As per latest statistics as on 6/4/18,CIC is ₹18.425 LC, which is 1LC less!
