Please click above banner as I get revenue from that

Sunday, April 30, 2017

Bitcoin Demand Continues to Rise in India as Cash Reserves Run Dry

Bitcoin Demand Continues to Rise in India as Cash Reserves Run Dry

Right now there is significant demand in India for cash as banks and ATMs within the country are currently experiencing a shortage of physical notes. According to regional publications, some regions in India are reporting 90 percent of the local ATMs do not have cash. Sources in the country say the Reserve Bank of India (RBI) has moved some of its cash reserves to certain areas within the country due to the recent elections.

Furthermore, the State Bank of India (SBI) has revealed the cash crisis has caused customers to start losing confidence in the system because there is nothing local bank executives can do.

“Nearly 70 percent of our 648 ATMs in the three districts are out of cash. The rest will also become dry in the next few days as we do not have cash to refill the machines. We are helpless from our side,” said the deputy general manager of SBI, Ajoy Kumar Pandit.

Full story at http://bit.ly/2pjk1FD

Tweet This Story

 

 

 

Donation:
If you appreciate the things I share,
consider making a contribution no matter
how small via PayPal. If you use Bitcoin you can
send donations to my Bitcoin Wallet:
12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.