Give priority to rural ATMs - RBI
Posted on: 30/Nov/2016 12:06:06 PM
Indians are chaotic after the government withdrew Rs 1,000 and Rs 500 currency notes from circulation. Many of the ATMs are yet to be recalibrated. The ATM task force, which was set up to quicken the process, had asked banks to recalibrate 12,500 machines per day.
The government and the Reserve Bank of India have given a mandate to Cash logistics and ATM network managers of the country to recalibrate rural ATMs on a priority basis. While the government is pushing banks to help rural people open more accounts and transact digitally, the urgent need now is to recalibrate ATMs in rural and far off areas to ease the cash crunch.
A bank official said that in rural areas ATMs are far and fewer in between unlike in urban areas where they are usually found in clusters. It will take us more time to reach such ATMs in far flung areas.
