Mumbai - State Bank of India (SBI) expects to calibrate 1,000 of its ATMs for Rs 2,000 currency notes by Monday night
Published: Sun 13 Nov 2016, 6:15 PM
Updated: Sun 13 Nov 2016, 8:29 PM
The much awaited Rs 2000 notes are likely to be available in ATMs from Monday in India.
According to the statement of the Ministry of Finance, the process of disbursement of Rs 2000 notes in ATMs will begin next week onwards. The ministry added that there is sufficient cash available with Reserve Bank of India and other banks. They were advised to step up the supply of cash to the public.
Meanwhile, State Bank of India (SBI) expects to calibrate 1,000 of its ATMs for Rs 2,000 currency notes by Monday night, its Chairman Arundhati Bhattacharya said on Sunday.
"We are working hard to bring back normalcy in banking service. In all India level, we expect to calibrate 1000 ATMs with Rs 2,000 notes by tomorrow (Monday) night and many more ATMs will gradually be calibrated for a new currency," she said.
ATMs in India have separate cassettes (boxes) to hold different denominations of cash such as Rs 100, Rs 500 and Rs 1000 notes. Configurations of cassettes vary as per the currency they hold.
Bhattacharya said the bank has started "reconfiguring ATMs' cassettes for new Rs 500 and Rs 1000 notes". New notes of Rs 500 would also be "available for dispensation in ATMs", once they are available with the bank.
Presently, banks have been refilling ATMs with Rs 100 notes. "We are replenishing ATMs with Rs 100 notes. But an ATM carries about 2,500 notes of Rs 100 denomination. These are going empty quickly after serving 125 persons on average," she said.
The banks are trying level best to provide Rs 100 notes, she added.
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