Bhopal (Madhya Pradesh) [India], Apr. 17 (NT): Madhya Pradesh Finance Minister Jayant Kumar Malaiya claimed that the continuing nationwide cash crunch is due to a shortage of supply of Rs. 2000 currency denomination.

"This situation (cash crunch) is not restricted to the state; it is there in the entire country. It is true that the notes of Rs.2000, which amounts to a currency of Rs. 7 lakh crore have gone out of supply, thus leading to such a situation," he stated ANI.

Conversely, the minister told that only around 20 percent of all ATMs was stopped up, adding that currency reserves are not totally pour out.

On the other hand Bihar Finance Minister Sushil Modi stated the Reserve Bank of India (RBI) has been notified of the cash crunch in the state for the past six days, and assured that the problem would be set on in two days.

"The RBI said there was a shortage of supply of currency notes, due to which the cash crunch occurred. However, they have assured that the problem will be resolved in the next day or two," he stated.

People in several parts of the country, including Delhi, Karnataka, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh, Bihar, Telangana and Maharashtra have been not capable to withdraw cash from the ATMs, as these have gone dry and service off.

Earlier in the day, Union Finance Minister Arun Jaitley termed the cash crunch in the country as a 'temporary shortage', and assured citizens that the situation is being tackled quickly.

"Have reviewed the currency situation in the country. Over all there is more than adequate currency in circulation and also available with the banks. The temporary shortage caused by 'sudden and unusual increase' in some areas is being tackled quickly," Jaitley wrote on Twitter.

In addition, State Bank of India (SBI) Chairman Rajnish Kumar gave assurance to the people of the country that normalcy would be re-established within a week.