90% of all ATMs recalibrated for new notes, rest to get done by Dec 10
Amid the ongoing cash-crunch post demonetization, a part of which was brought on by the inability of existing ATMs to dispense new currency, almost 90 percent of all ATMs in the country have been recalibrated for the new Rs 500 and Rs 2000 notes.
The recalibration process of all ATMs, around 2 lakh, was estimated to complete by November 30.
Each ATMs had to be recalibrated following the government’s decision to demonetize old Rs 500 and Rs 1000 notes, and replace them with new Rs 500 and Rs 2000 notes.
The old notes, which were taken out of circulation to curb black money, were replaced by notes of different size and security features.
“A working group, formed under a RBI headed task force, was given a deadline to recalibrate all the ATMs by November 30. About 90 percent, which is around 1.80 lakh ATMs, have been re-calibrated so far to dispense new Rs 500 and Rs 2,000 notes,” ATM manufacturer NCR Corporation’s managing director, (India & South Asia) Navroze Dastur told news agency PTI.
Following the announcement to discontinue old high currency notes, a task force was set up on November 14 under the chairmanship of Reserve Bank deputy governor S S Mundra to oversee the recalibration process of all the ATMs.
A working group was formed under the task force, which consisted of representatives of ATMs manufacturers like NCR, Diebold Nixdor, cash in transit companies and managed service providers, among others.
Dastur told the agency that the working group consisted of around 40-60 people, who have been recalibrating 12,000 ATMs on average each day.
The remaining ATMs are expected to be recalibrated over the next 10 days.