New Delhi, Dec 1: In a bid to make matters easy and fluid on the upcoming cash days, RBI has decided to boost the printing of the new 500 notes and increased liquidity by 20% to make sure there is enough cash in the banks to meet with the pay day demands of the public. 

So far private banks are having a hard time keeping the cash supply intact even as their share of currency is getting over by mid day on most days. According to Government sources, the four printing presses two owned by RBI in Mysuru and two government owned in Nashik and Devas are now working three shifts a day to meet with the increased demand of currency. 

With long queues outside most ATMs and banks and people returning empty handed on most days, the finance ministry is working overtime to find solutions for the current situation, one of them being augmenting the supply of 500 rupees note. RBI is hopeful that the situation will be stable by Thursday and large funds will be available with banks holding salary accounts.

The government has already given advance pay of Rs 10,000 to all class C and B employees in a bid to ease the pressure off from the banks on pay days. Private lenders such as HDFC has tied up with retailers such as Catwalk, Metro, Mochi and others where in HDFC account holders can swipe their card to get Rs 2000 as withdrawal. The move again is an attempt to ease pressure off from the bank branches. 

Wednesday saw most banks running out of currency by early afternoon hours and many small bank branches received no money at all with even the major branches receiving only a fourth of their demand. “ Almost all loan payments have come to a standstill with close to 90% inflow of people coming in for withdrawal, but currency is running out fast’, stated a Private bank employee.