TIA NEWS /
Government Thursday expressed confidence that the supply of new currency notes will considerably improve in the next 2 to 3 weeks to ease out cash crunch in the country. It said, the RBI has already pumped in 5 lakh crore worth 500 and 2,000 rupee notes and by month end about 50 percent of demonetised currency will be injected into the system.
Speaking to media in New Delhi this evening, Economic Affairs Secretary Shaktikanta Das said that the government has stepped up printing of 500 rupee notes and as its circulation increases. He said , the new notes seized from illegal accumulations are also being put back into the circulation. He said that the enforcement agencies are taking action on illegally accumulated money on the basis of specific inputs.
He informed that all banks have also tightened their vigilance mechanism following the reports of illegal accumulation of currency. The Secretary said, there are 2 lakh 20 thousand ATMs in the country out of which more than 2 lakh ATMs have already been re-calibrated to dispense cash.
He said, airlifting of currency will continue, wherever necessary, and emphasis is being laid on rural areas to ensure adequate cash. Mr. Das also said, first time notes were indigenously designed in house with security features which makes new notes more secure with less chance of counterfeiting.