Rs 200 notes not to be available on ATMs
Posted on: 05/Jul/2017 5:37:00 PM
According to recent reports, the Rs 200 denomination notes issued by the Reserve Bank of India might not be made available at automated teller machines or ATM booths.
This is an attempt to ensure enough cash supply in its remonetization drive that was started after the hectic cash crunch across the country.
Recalibrating all the 2,20,000 ATMs across the country is really a tedious task and the central bank is eyeing to avoid the step. To note, following the demonetization of Rs 1000 and Rs 500 notes, new Rs 2000 notes were introduced.
The entire network of ATMs were tweaked. It was really a tough task for the RBI to handle the entire task. As per reports, a senior bank official said that recalibrating all the 2,20,000 ATMs for supplying Rs 200 notes through ATMs is tedious.
We are not going to disturb the system yet again, said the official. Following note ban, there was severe disruption in cash supply across the country for about 4 weeks starting from 10th of November.
