Why Cash Problem Again in India?

Again cash problem in India in new financial year. People wants to know the reason. Is it due to any political agenda or it’s primarily the fault of Modi Government or due to any other reason?

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As some of the news channels are showing that this is the problem because some opposition political leaders want to show the public that demonetization become fail and this is happening again because of old currency exchange.

India’s last cash problem was caused in November 2016, when Mr. Modi has decided to get rid of black money that is 500 & 1000 rupee notes. The current shortage is also again because of government policy decisions, as well as Public faith in term of safety on banks are not good after several big scandals.

Opposition political leaders are also trying to gain political benefits from this situation and criticizing the Modi’s policies.

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Is someone is working behind this?

As discussed with some of the experts and they told us, this is primarily fault of government due to lack of proper arrangement in New Financial Year as The harvest and marriage seasons are on the peak due to which increasing the demand for cash. If the shortage is quickly fulfilled then it can help to government to manage the things otherwise more customers will demand their money, potentially causing a bigger problem to run the banks.

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People have deposited their money in the bank with expectation that whenever they need money, they can get it from the bank. When banks are not giving their money, then people are becoming hyper on the banks & banking system, also feeling like the bank deposits are not safe. That is why people wants to withdrawing their money from the banks.

That’s why the issue of cash problems are increasing day by day, as of now people should support on and keep patience and trust on our Indian Banking System so that smooth transaction could be possible to each and every person.

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