After the government’s decision of demonetisaiton of old Rs 500 and Rs 1000 notes, which was made by the Prime Minister on November 8 to curb the black money. The implementation of the new currency notes was not proper planned and due to which the whole country is facing cash crunch, after that the RBI planned to gave Rs 5,000 crore to Uttar Pradesh to avoid cash crunch.
According to an official, the Reserve Bank of India (RBI) flew in Rs 5,000 crore in a heavily guarded cargo plane to cash parched Uttar Pradesh.
At many places in Uttar Pradesh, due to the demonetisation decision of higher currency notes, the state was reeling under a cash crunch leading to chaos, anger and law and order situation at many places.
The money soon after landing at the Chaudhary Charan Singh international airport was wheeled into the regional RBI office. The currency was sent to Lucknow for further distribution across the ATMs and banks includes Rs 500 and Rs 2000 notes. The cash will be distributed evenly between the RBI offices in Kanpur and Lucknow.
The government has to take this step earlier, because due to cash crunch the state was leading to grave law and order situation, which shows that how the people were facing hardship due to this decision.
--with agency inputs
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