ATM cash crisis: Problem severe, Income-Tax dept roped in by government
This comes amid reports of an unusual spike in cash in the ATMs in many parts of the country. The finance ministry will ask the I-T department to probe all the large withdrawals made in the past three months. "There has been a mismatch in withdrawals and deposits made with the banks in last 2-3 months. The taxman will probe who all withdrew large sums," sources said
The reason for the sudden spike in demand is being analysed, the government said. In the last 2-3 months, there has been a cash demand of Rs 40,000-45,000 crore against the usual demand of Rs 10,000-15,000 crore, officials said. Image source: PTI