Demonetisation: UP receives Rs 5000 crore from RBI to meet cash crunch

Cash parched Uttar Pradesh received Rs 5,000 crore from Reserve Bank of India.

Lucknow, Dec 17: The Reserve Bank of India (RBI) on Saturday flew in Rs 5,000 crore in a heavily guarded cargo plane to cash parched Uttar Pradesh, an official said.

The state was reeling under a grave cash crunch since the November 8 demonetisition of higher currency notes, 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.

IANS