India's ATMs are running out of cash … again

India's path to double-digit growth

India’s path to double-digit growth

Less than 18 months after a ban on most of India’s cash left millions of people scrambling for banknotes, some ATMs are once again running dry.

India’s government blamed reports of a new cash shortage in several states on an “unusual spurt in currency demand” over the last three months. Demand for cash shot up by 450 billion rupees ($6.9 billion) in the first two weeks of April alone, it said.