Rs 200 currency note has been released but the ATM near you will not dispense it very soon.
Rs 200 currency note has been released but the ATM near you will not dispense it very soon. Reason: ATM manufacturers will have to recalibrate ATMs across the country to make them able to dispense the new currency note. The total number of ATMs across the country is estimated to be over 2,00,000. This means it will take a lot of time for the Rs 200 note to reach to an ATM near you.
The Reserve Bank of India had announced the release of new notes on August 25. In the last four days, not many people have been able to get the new Rs 200 note. Generally, an ATM has three to four cassettes, each of which is meant for different types of notes. Each of these cassettes can hold up to 2500 notes. For dispensing new notes, the ATMs will have to be reconfigured and it will take a long time.
Apart from the reconfiguration of the cassettes, the necessary supply of new notes will also have to be ascertained by ATM providers and banks. Moreover, the ATMs will have to be tested before they can start dispensing the new note. It is expected that these processes may take around a week time in cities and may be more in rural areas.
Himanshu Pujara, managing director, Euronet Services India Pvt Ltd, had told The Indian Express earlier, “Since the length of the new Rs 200 currency is different from the existing currency in circulation, cassette calibration is required to be done. ATM manufacturers need to do a complete testing of the new Rs 200 denomination currency and provide the parameters which need to be configured at the ATM by an engineer. At the ATM switch level, we will require to switch configuration and complete testing of new 200 denomination currency before implementation,”
The new Rs 200 currency note bears the Motif of ‘Sanchi Stupa’ on one side, depicting the country’s cultural heritage. The base colour of the note is bright yellow. It has other designs, geometric patterns aligning with the overall colour scheme. The notes are in the Mahatma Gandhi (new) Series, bearing the signature of RBI Governor Urjit R Patel, RBI release had said earlier.
The Rs 200 notes is presently available in some banks.