Where's the money, RBI? Data shows India's old habits die hard

[prasad1]

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Having speeded up printing presses to refill banks’ empty ATMs in some parts of the country, the Reserve Bank of India (RBI) released data on Wednesday showing that people were still hoarding cash as withdrawals outpaced spending.


Rupa Rege Nitsure, group chief economist at L&T Finance Holdings, suspected the spike in withdrawals could be a belated reaction after the government’s so-called “demonetisation” move.

“Post demonetisation, there is a fear among people over availability of cash and there could be a tendency of small businesses withdrawing money and hoarding cash given that bank credit is not easily available to them,” she said.

https://timesofindia.indiatimes.com/business/india-business/wheres-the-money-rbi-data-shows-indias-old-habits-die-hard/articleshow/63920762.cms



Maybe Indian Rupee notes should have an expiry date!!!!!!!

 

[krish44]

We as a nation have learnt to cope with shortages of food items in shops, ready cash in ATMs.There are segments of population which thrive on creating shortages for their

own benefit.

The recent cash crunch has been attributed to upcoming election in karnataka and 2000 rs notes being hoarded by political parties for electioneering expenses. Govt for

reasons best known to them tried replacing 2000 notes with 500 rupee notes in ATMs.But they could not meet the requirements fully in most places.

We have got used to these things -Rationing and hoarding make life interesting. Now wherever there is a queue anywhere in a public place we simply join the queue.We

know some scarce item is getting distributed.Lol

 

[tbs]

Having speeded up printing presses to refill banks’ empty ATMs in some parts of the country, the Reserve Bank of India (RBI) released data on Wednesday showing that people were still hoarding cash as withdrawals outpaced spending.


Rupa Rege Nitsure, group chief economist at L&T Finance Holdings, suspected the spike in withdrawals could be a belated reaction after the government’s so-called “demonetisation” move.

“Post demonetisation, there is a fear among people over availability of cash and there could be a tendency of small businesses withdrawing money and hoarding cash given that bank credit is not easily available to them,” she said.

https://timesofindia.indiatimes.com/business/india-business/wheres-the-money-rbi-data-shows-indias-old-habits-die-hard/articleshow/63920762.cms


Maybe Indian Rupee notes should have an expiry date!!!!!!!

hi
i agreed....so that nobody will keep it long....corruption willl go away automatically...