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RBI questions AP over cash crunch

Sun, Apr 09, 2017, 06:22 PM
Reserve Bank of India (RBI) authorities have questioned Andhra Pradesh (AP) government over the cash crunch being faced by the State. This is after AP government has urged RBI to send more cash. In fact, AP has been allocated more money than any other state, RBI authorities said. Where has all the money gone?, they questioned. The AP treasury has just a little over Rs. 2,000 crores. Banks are not replacing cash in ATMs on regular basis. Many are withdrawing huge sums and not depositing in banks as they want to avoid the charges fixed by banks on deposits and withdrawals.
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