NEW DELHI: Amid rising anger among people across India over exchanging the scrapped currency, Finance Minister Arun Jaitley today regretted hardships caused due to withdrawal of high denomination notes but advised the public to be patient as the move will have larger benefits for the economy in long term.
He said it may take up to 3 weeks for all the 2 lakh cash vending ATMs to operate normally as each one has to be calibrated individually to dispense new sized notes of Rs 2000 and Rs 500 besides lower denomination currency of Rs 100.
Assuring that RBI and banks have stacked up enough currency to replace the Rs 14 lakh crore worth of Rs 1000/500 notes that have been declared invalid, he said the Government is constantly monitoring the situation as it is a “massive operation”.
As banks have been asked to remain open this weekend to cope with the rush, the Finance Ministry held a video- conference call with top RBI officials to assess the emerging situation and coordinate currency distribution across the country. (AGENCIES)
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