40 per cent ATMs recalibrated to dispense new currency

As many as 82,500 ATMs, which account for about 40 per centof cash vending machines in the country, have been recalibrated to dispense newhigh 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 taskforce set up by the government to expedite the process, Rituraj Sinha,President Cash Logistics Association of India, told PTI.

These have been recalibrated in such a manner that regionalbalance is maintained while giving priority to rural areas, Sinha, also amember of the task force headed by RBI Deputy Governor S S Mundra, said.

With the recalibration, ATMs are now stocking 50-60 lakhcash and are able to cater to higher demand.

As a result, many ATMs are holding cash longer and queuesoutside such machines are also getting smaller.

However, before the recalibration, ATMs could hold up to Rs5 lakh of Rs 100 notes which used to get over very fast.

Since the formation of the task force, RBI, banks and cashlogistic companies have been working seamlessly, he said, adding that theprogress of recalibration of ATMs demonstrates a synergistic approach.

Cash supply has been streamlined to meet the requirements ofATMs and many such machines at various parts of the country have startedworking round the clock.

On a daily basis, about 12,000 to 14,000 ATMs are gettingrecalibrated.

"It is our endeavour to move towards normal ATM functioningby the end of this month," he added.

Prime Minister Narendra Modi had on November 8, in asurprise move, announced demonetisation of 500 and 1,000 rupee notes.