1. When will Rs 200 notes come in ATMs? This is the hurdle, get ready to be shocked

When will Rs 200 notes come in ATMs? This is the hurdle, get ready to be shocked

The new Rs 200 notes that was introduced by the RBI in August will be available in the ATMs only by the year-end. The ATM operators say it is because of the non-availability of the notes.

By: | New Delhi | Published: October 17, 2017 11:13 AM
Rs 200 notes in ATMs, recalibration OF THE ATMs FOR RS 200 NOTES, ATMs recalibration RS 200 NOTES, RBI recalibration OF THE ATMs FOR RS 200 NOTES, ATM OPERATORES, When will Rs 200 notes come in ATMs The new Rs 200 notes that was introduced by the RBI in August will be available in the ATMs only by the year-end. (RBI)

When will Rs 200 notes come in ATMs? That is the question on the minds of most people who are having to deal with either Rs 100 notes or the higher denominations of Rs 500 and Rs 2000. A note that is in between these segments will go down well to ease the currency transactions the public does on a daily basis. However, the wait is going to be a lengthy one. The new Rs 200 notes that was introduced by the RBI in August will be available in the ATMs only by the year-end. The ATM operators say it is because of the non-availability of the notes, according to The Times of India report. Navroze Dustur, MD of NCR, which operates more than 1 lakh ATMs across the country, said: “We have recalibrated a few ATMs.” He said it is the banks which have to take decision on recalibration not the ATM operators. Dustur said most of the banks have not requested for ATM recalibration for the new Rs 200 notes, as per TOI. Surprisingly, It is reported that due to non-availability of notes there has been a lack of interest on the part of banks to get all their machines recalibrated, the report said.

Earlier, The Reserve Bank of India said that the Rs 200 notes would be available in ATM machines after November this year. Rakesh Sharma, Canara Bank chairman, said the process of recalibration is slow and laborious and takes many weeks. He said at the time of demonetisation the workers had to work day and night to recalibrate the machines. It then took about two weeks, now there is no sense of urgency, he added. Citing that the availability of Rs 200 notes is also much less, he said, there is no dire need for ATM upgrade, the TOI report said.

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Earlier, Ravi B Goyal, Chairman and Managing Director, AGS Transact Technologies which claims to have an installed base of 60,000 ATMs across the country, said, “The entire process of recalibration can be completed within 90 days without affecting the regular functionality of ATMs to a large extent. In fact, the ATMs will continue to be fully operational during recalibration and will continue to supply Rs 100, Rs 500 and Rs 2,000 denominations,” as per IANS.

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