Atm Recalibration

Country's largest lender State Bank Of India (SBI) is yet to recalibrate 18,135 automated teller machines (ATMs) even after 21 months of demonetisation, an RTI query has revealed.

While the existing Rs 100 notes are sized 157x73 mm, the new ones measure 142x66mm, as per the RBI announcement this week.

The ATM operations industry today said introduction of a new Rs 100 note creates many challenges and an investment of Rs 100 crore will be required to recalibrate the country's 2.4 lakh machines.

Currently, Rs 200 notes are available only through select RBI offices and some banks.

The approximate cost of printing each note of new Rs 500 is in the range of Rs 2.87 to Rs 3.09, and Rs 3.54 to Rs 3.77 for Rs 2,000, Minister of State for Finance Arjun Ram Meghwal said.

The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...

The government today said that the new 500 and 2,000-rupee notes have been completely designed in house and so their security features are very secure.

Almost 85 per cent of country's cash dispensing machines had been recalibrated to fit the new notes till November 30 and the government has also advised banks to set up micro ATMs in rural areas to meet the cash need post demonetisation, Parliament was informed today.

Nearly 90 per cent of the 2 lakh ATMs deployed across the country have been re-calibrated to dispense the new 500 and 2,000 rupee notes.

Despite recalibration of nearly 70 per cent of ATMs do not have cash.

There will be no charge on the use of debit cards for now, the government said today, announcing more measures to make the sudden notes ban easier on people. In the Supreme Court, the government said around 88 billion dollars have been deposited in banks since the ban on Rs 500 and Rs 1,000 notes on November 8.

Economic Affairs Secretary Shaktikanta Das is addressing a media as the government is battling the opposition's criticism on its sudden move to ban the big currency notes to check black or untaxed money.

As many as 82,500 ATMs, which account for about 40 per cent of cash vending machines in the country, have been recalibrated to dispense new high security currency notes of 500 and 2,000 rupees.

Close to two weeks into the demonetisation exercise, how does one assess it? Frankly, there are several aspects to the episode: the execution, the aspiration, and the medium to long term political impact.

Normal banking operations should resume by the end of the month, say top government sources, with the printing of Rs 2,000 notes almost over and the recalibration of all the two lakh-odd ATMs in the country expected to be done by then, easing the cash crunch.

Country's largest lender State Bank Of India (SBI) is yet to recalibrate 18,135 automated teller machines (ATMs) even after 21 months of demonetisation, an RTI query has revealed.

While the existing Rs 100 notes are sized 157x73 mm, the new ones measure 142x66mm, as per the RBI announcement this week.

The ATM operations industry today said introduction of a new Rs 100 note creates many challenges and an investment of Rs 100 crore will be required to recalibrate the country's 2.4 lakh machines.

Currently, Rs 200 notes are available only through select RBI offices and some banks.

The approximate cost of printing each note of new Rs 500 is in the range of Rs 2.87 to Rs 3.09, and Rs 3.54 to Rs 3.77 for Rs 2,000, Minister of State for Finance Arjun Ram Meghwal said.

The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...

The government today said that the new 500 and 2,000-rupee notes have been completely designed in house and so their security features are very secure.

Almost 85 per cent of country's cash dispensing machines had been recalibrated to fit the new notes till November 30 and the government has also advised banks to set up micro ATMs in rural areas to meet the cash need post demonetisation, Parliament was informed today.

Nearly 90 per cent of the 2 lakh ATMs deployed across the country have been re-calibrated to dispense the new 500 and 2,000 rupee notes.

Despite recalibration of nearly 70 per cent of ATMs do not have cash.

There will be no charge on the use of debit cards for now, the government said today, announcing more measures to make the sudden notes ban easier on people. In the Supreme Court, the government said around 88 billion dollars have been deposited in banks since the ban on Rs 500 and Rs 1,000 notes on November 8.

Economic Affairs Secretary Shaktikanta Das is addressing a media as the government is battling the opposition's criticism on its sudden move to ban the big currency notes to check black or untaxed money.

As many as 82,500 ATMs, which account for about 40 per cent of cash vending machines in the country, have been recalibrated to dispense new high security currency notes of 500 and 2,000 rupees.

Close to two weeks into the demonetisation exercise, how does one assess it? Frankly, there are several aspects to the episode: the execution, the aspiration, and the medium to long term political impact.

Normal banking operations should resume by the end of the month, say top government sources, with the printing of Rs 2,000 notes almost over and the recalibration of all the two lakh-odd ATMs in the country expected to be done by then, easing the cash crunch.