No it is not. There are locations where ATMs have run out of cash, but it does not look like an all-India problem that we faced during demonetisation.
While finance minister Arun Jaitley has called it a “temporary shortage”, some experts suspect Rs2,000 notes are being hoarded. Another reason being given is that the Reserve Bank of India (RBI) has not been printing Rs2,000 notes and aims to switch to printing lower denomination notes. Yet another explanation is that although the value of currency in circulation has grown, it has not matched nominal economic growth.
Also, while digital payments may have taken off in metros, cash is still in demand in rural towns.
The government and RBI have reassured they are taking measures to meet the demand and long lines at ATMs are not visible in major metros.