Free Press Journal
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    Two-wheeler sales likely to be hurt  

    Non-banking financial companies (NBFCs) are likely to witness severe cash crunch due to the near-term maturity of commercial papers (CPs) subscribed by mutual funds, affecting sectors reliant on them for funding, especially the two-wheeler segment, warns a report. The two-wheeler financing has increased from 30 per cent in FY14 to 50 per cent in FY18, driven mainly by NBFCs. The share of NBFCs, including captives ones, in two-wheeler financing is now at

  • Is the once cash-rich Congress party facing a financial crisis?

    After facing humiliating loss in most of the states in the country, the crisis for the Grand old Congress Party doesn’t seem to get over. Now, a report has come up which suggests that Congress is facing a financial crisis. Really? One of the richest political party is facing a cash crunch, which might sound absurd and might even give a reason to some of its members to quit and go to

  • Uttarakhand: Cash crunch in Rudraprayag leaves tourists stranded

    Rudraprayag: A dire cash crunch situation in Uttarakhand’s Rudraprayag has made life difficult for pilgrims who travel there to visit Kedarnath and Badrinath. Speaking to ANI, a local said that there were more than 20 ATMs in Rudraprayag district but none of them are dispensing cash.

  • 4-day bank holiday in Maharashtra from tomorrow

    After the recent cash crunch, brace yourself for another 4-day long weekend starting from April 28, as banks will be closed continuously for 4 days in Mumbai and rest of Maharashtra. People are advised to complete bank-related pending work today.

  • Indore: Cash crunch continues, supply from RBI likely on April 21

    Indore: The wedding season is in full swing but people are finding it difficult to make payments due to cash crunch prevailing in the city. On Thursday too, banks did not receive fresh currency notes from Reserve Bank of India. As a result, the banks put money in ATMs after whatever cash they received from customers.

  • Cash crunch could be superficial, says SBI

    New Delhi: The State Bank of India (SBI) on Thursday said that the current and sudden surge in Currency in Circulation (CIC) could be superficial. The leading Public Sector Bank (PSB) added that ATM withdrawals have declined in quarter four (Q4) on a sequential basis.

  • Cash Crunch, India, Cash crunch in India, ATM cash crunch, Shiv Pratap Shukla, Reserve Bank of India, Shiv Pratap Shukla

    Cash crunch: Cash available in over 80% of ATMs, claims MoS Shiv Pratap Shukla

    New Delhi: Amid rising furore over a reported cash crunch in the country, Minister of State (MoS) for Finance Shiv Pratap Shukla on Wednesday refuted the same, saying more than 80 percent of the ATMs in the country have cash. Speaking to ANI, the minister further urged individuals circulating ‘misleading’ information to stop doing so.

  • Indore: Hoarding leads to cash crunch in city

    Indore: The currency crunch has deepened in the city as the inward movement of currency notes of Rs 2,000 denomination has almost stopped in local bank branches. Experts said this is because people have begun to hoard high denomination currency notes. Indore is considered the financial capital of Madhya Pradesh where banking transactions take place on large scale every day.

  • Cash Crunch: ATMs have a quirky connection with Karnataka

    ‘Unless you see signs and wonders, you will not believe,’ says the Bible. Then, if ‘no money in the ATM’ is a ‘sign’, it will require a doomsday scenario to turn the phenomena into a ‘wonder’. Rahul Gandhi and Derek O’Brien term it a ‘Financial Emergency’. “But where are the facts to substantively advance that theory?” asks Alec Smart, not aware that Arnab Goswami had said much the same the night before

  • Cash Crunch: RBI slips up again?

    The currency crunch in parts of the country, with ATMs running empty in several places, underlines mismanagement by the central bank. Before undertaking a five-fold increase in the production of Rs 500 notes, currency managers ought to have anticipated the likelihood of disruption. Amidst reports of hoarding of Rs 2000 notes, ahead of the Karnataka and other Assembly elections this year, and the Lok Sabha election next year, provision of adequate currency

  • Cash Crunch: Currency note printing has nearly halted in Nashik

    Nashik: The currency note printing press at Nashik is not in the pink of health. The machinery in the press is outdated and the printing of Rs 500 notes was stopped in November 2017 after the target for the year had been met. This seems to undermine the claim of the government that production of Rs 500 notes is being ramped up in all the currency printing presses to meet the cash

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