The Reserve Bank of India (RBI) launched the Rs 200 note last week and it is now being said that it may take up to three months time for ATMs across the country to start dispensing the new notes.
The Reserve Bank of India (RBI) launched the Rs 200 note last week and it is now being said that it may take up to three months time for ATMs across the country to start dispensing the new notes. According to a report by Patrika.com, the Central bank has recently released the time frame for the delivery of the new currency at ATMs. According to the central bank, it would be available in ATM machines after November this year. Currently, these notes are available only in bank branches and RBI is working on disbursal of the same through ATMs. The Central bank while launching the new Rs 200 note stated that it could take some time for them to be disbursed from the ATMs as it will involve a huge exercise of recalibration of ATMs.
According to an IANS report, some banks have even asked the ATM companies to start testing the new note for recalibration of the machines, though they have not got supplies of the new currency. It was only last year when the banks were involved in recalibration of ATM machines after the demonetisation of high-value currency notes took place in November and new Rs 500 and Rs 2000 notes were put i circulation that were of different size than the banned Rs 500 and Rs 100 notes.
However, the ATM manufacturing companies said that they have not received any directive from the RBI regarding the recalibration of ATMs for the new Rs 200 note. They also stated that some banks have asked them to start testing of the new note, since it is of a different size. It is still not clear that whether all the 2.25 lakh ATM machines across India would be recalibrated for dispensing the new note.
Speaking to IANS, 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.”
Below mentioned are some specific details about the new Rs 200 note:
i. The colour of the new Rs 200 note is orange which makes it look more attractive
ii. In smalls font, the new note will have RBI, Bharat, India and 200 printed on it.
iii. The note will also have a watermark of 200
iv. For visibly challenged people, the note will have means of identification
v. Left side of the note will have year in which it has been printed