More than 80 thousand ATMs recalibrated to dispense new notes

Out of 2.2 lakh ATMs, 82,500 were recalibrated till Monday evening.

By: PTI | New Delhi | Published:November 22, 2016 5:57 pm
ATM recalibrated, demonetisation, RBI, RBI Governor,RBI Deputy Governor S S Mundra, Narendra Modi,no more cash crunch, demonetisation central government move, new notes, indian express news People standing in long queues to exchange their old Rs 500 and 1000 notes and withdraw cash from the ATM in New Delhi. (Source: PTI)

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. Out of 2.2 lakh ATMs, 82,500 were recalibrated till Monday evening. These ATMs have been reset as per the direction of task force set up by the government to expedite the process, Rituraj Sinha, President Cash Logistics Association of India, told PTI.

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These have been recalibrated in such a manner that regional balance is maintained while giving priority to rural areas, Sinha, also a member of the task force headed by RBI Deputy Governor S S Mundra, said. With the recalibration, ATMs are now stocking 50-60 lakh cash and are able to cater to higher demand. As a result, many ATMs are holding cash longer and queues outside such machines are also getting smaller.

However, before the recalibration, ATMs could hold up to Rs 5 lakh of Rs 100 notes which used to get over very fast. Since the formation of the task force, RBI, banks and cash logistic companies have been working seamlessly, he said, adding that the progress of recalibration of ATMs demonstrates a synergistic approach. Cash supply has been streamlined to meet the requirements of ATMs and many such machines at various parts of the country have started working round the clock.

On a daily basis, about 12,000 to 14,000 ATMs are getting recalibrated. “It is our endeavour to move towards normal ATM functioning by the end of this month,” he added. Prime Minister Narendra Modi had on November 8, in a surprise move, announced demonetisation of 500 and 1,000 rupee notes.

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  1. M
    MyTake
    Nov 22, 2016 at 6:36 pm
    Can't the ATMs be calibrated just by changing settings or have few parallel calibration settings developed with few variables in it, which can be remotely updated? It should simply be a matter of updating the firmware and that should be possible to be done remotely. With this functionality in place it will be a cake walk to implement demonitisation scheme in future, if need be and the criminals will be constantly on notice!
    Reply
  2. M
    MyTake
    Nov 22, 2016 at 6:48 pm
    If high value notes are embedded with chips and are tracked that can give clues when to bring down the sword of demonitisation at short notice! This will give an idea why these notes are not ending up in banks, instead sitting idle for months in row!lt;br/gt;lt;br/gt;If the movements of legal notes not matching the economic activities in certain localities, this will also indicate something else is taking its place! Another clue to focus on that particular region and bring in other measures! Monitoring the movements of these notes will give an indication If the economy is healthy (minus the cashless transactions) in a certain locality. When the data is available so many other things can be done with it.
    Reply
  3. A
    ams
    Nov 22, 2016 at 11:29 pm
    Bhakts will go to the extent of telling you Modi ji himself recalbrated the ATMs but they will not say all this should have been done "before" demonetization and not after it!!!
    Reply
  4. A
    ashok s
    Nov 23, 2016 at 12:36 am
    In any other country either in west or east where government is serious about minimizing use of currency, doest not stakes high denominations notes in ATM s . ATM are means for emergency withdrawal s for small time expenceses . e.g euro Despenser don't dispense 200, 500 notes only 20,10,5 . so why focus calibration for 2000 rs Despension rather focus printing 50, 100 notes
    Reply
  5. R
    Rajiv Dua
    Nov 22, 2016 at 4:10 pm
    Where are the ques getting shorter?
    Reply
  6. G
    Guru
    Nov 23, 2016 at 7:35 am
    Being Bhakt is honour, than black sheep on nation by being Desh Drohi. But for few s being anti-national has become a fasion.
    Reply
  7. I
    Indian
    Dec 5, 2016 at 3:31 pm
    One thing is for sure. It's time to get out the cash mindset and start using cards, UPI etc. UPI i find very useful because it's about the virtual id and if widely used then there is a chance that everyone can forget their wallet at home. :) But not the mobile phone. ) There are many UPI apps released by banks especially ICICI's Pocket, SBI's SBI Pay etc. if every business could have a virtual id, everyone can pay using that. The charges are also free at the moment.
    Reply
  8. A
    ad
    Nov 22, 2016 at 4:39 pm
    Atm recalliberation is the key point to avoid ques gov. needs to complete it as early as possible
    Reply
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