Rs 200 notes might not be available in ATMs
Posted on: 07/Apr/2017 4:30:50 PM
The new Rs 200 denomination notes that are likely from the RBI may not be available at ATM machines, as per recent reports.
The central bank is showing focus towards ensuring surplus supply of cash in the system towards remonetization drive that followed cash crunch caused by demonetization. All the 2,20,000 ATMs present across the country might not be recalibrated for the new Rs 200 denomination notes, as the central bank will probably avoid doing so. Following demonetization of Rs 500 and Rs 1000 notes, the RBI had introduced Rs 2000 notes.
It was really challenging for the RBI to tweak the wide network of ATMs on the basis of data present in Rs 2000 notes. According to a senior official, making Rs 200 notes available at ATMs will be a herculean task as it requires recalibrating all the 2,20,000 ATMs.
The system need not be disturbed yet again, the official added. Following note ban, there were severe disruptions in the cash supply for about 4 long weeks starting from 10th November.
These notes should be circulated through banks, the official said. All these are however at proposal level. In some regions of the country, the cash crunch - lack of enough low denomination notes - is still prevalent and hence, a proposal to print Rs 200 notes was taken to the RBI.
