The four presses of the Security Printing and Minting Corporation of India Limited or SPMCIL have been running for 18-19 hours daily, with a three-four hour break, on normal operation days.
But since the time ATMs ran dry due to "unusual spurt in demand" for cash, the presses have been operating non-stop, the officer told news agency Press Trust of India.
A currency printing cycle involves 15 days. The increased number of currencies being printed beginning this week would be available only toward the end of this month.
The last time currency notes were printed round-the-clock was just after demonetisation in November 2016, when the presses worked to churn out the new Rs 2,000 notes in order to meet liquidity shortage in the market, said the officer who asked not to be named.
Cash crunch may be felt in some areas largely due to logistical issues of replenishing ATMs frequently. ATMs are also being recalibration to dispense smaller sized Rs 200 notes, the RBI has said.
Economic affairs secretary Subhash Chandra Garg said the government suspects that Rs 2,000 notes are being hoarded as they are not returning into circulation fast enough. To deal with currency shortage, printing of Rs 500 notes have been increased fivefold.
The Rs 2,000 rupee notes account for 35 per cent of the Rs 18.43 trillion currency in circulation in the country. The printing of this high-denomination note has stopped as it had reached its threshold of Rs 6.70 trillion in the system.
The Rs 18.43 trillion currency notes in circulation compares to nearly Rs 17.97 trillion currency in circulation before demonetisation of the old Rs 500 and Rs 1,000 notes on November 8, 2016.
With inputs from PTI
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