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Cash Crunch Returns: Notes Smuggled to the Election States?

Things are looking like returning to Normal in terms of Cash Availability in the last couple of weeks. Our Ground Reports say that things are almost normal in cities and Towns while they are crippling to normal in villages for the last few weeks. But then things have changed drastically in the last couple of days.

Several ATMs even in the city are showing the No Cash Boards bringing those bad memories of Cash Crunch back. While some say this is due to Salary drawing, the same situation is not seen in January. Some of the experts say that this may be a hand job of few in the government.

Remember five states are going to elections this month and early next month. Some suspect the notes are being diverted to fund the electoral malpractices in those states. If that is really case, BJP should be the culprit having the power to influence RBI.

RBI the other day announced the lifting the limits imposed on Cash Withdrawals in phases. The withdrawal limit will be increased from the existing 24000 to 50000 from February 13th and the withdrawal limits will be completely lifted from March 13th i.e., from then, we will be withdrawing cash just like how we did before November 9th.

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