For those waiting to get new Rs 200 currency notes, they will have to wait for about three more months. Due to the huge exercise of recalibration, it will take ATMs more time to start dispensing the new denomination currency.
In a statement, Reserve Bank of India (RBI) mentioned that the supply of the new Rs 200 notes would soon be ramped up, however, no time-frame was given by the bank as per by what time it will be available in adequate numbers.
A few of the banks even asked the ATM companies to start testing of the new notes for recalibration of the machines, but they have not got supplies of the new currency. It was last year when the banks were involved in the recalibration of ATM machines after PM Narendra Modi announced demonetisation in November.
Ravi B Goyal, Chairman and Managing Director, AGS Transact Technologies Limited, which claims to have an installed base of 60,000 ATMs, said “The process of recalibration will begin once we receive the directive from the RBI. The size of the new notes is different from the existing ones and so, once we receive the new notes, we will have to understand its dimensions and accordingly reconfigure the ATM cassettes. Next, we will have to check if the supply of notes is good enough to run the cassettes at full capacity.”
General Manager (Services), NCR Corporation said, banks are getting in touch for testing new Rs 200 currency notes. However, the notes are yet to be provided by the respective banks so that the testing of it can begin.
(Source: IANS, The Economic Times)