ATMs to dispense Rs 50, Rs 20 notes in India

ATMs to dispense Rs 50, Rs 20 notes in India

Indian currency news

MUMBAI: Maintaining that the state of panic among people is
on the decline following the constant flow of cash at banks and
ATMs, State Bank of India (SBI) chairperson Arundhati Bhattacharya
said the bank will soon start dispensing Rs 50 and Rs 20 currency
notes to further help the public (Indian currency news).

The SBI chief said that in all of their branches in the southern states,
the workload has dropped to almost 50 per cent, which is a sure sign
that people are assured that they will receive the money at their own
convenience.

However, talking about the inconvenience caused to the masses with
ATMs running out of cash faster than expected, Bhattacharya added
that ATMs are emptying out fast because it has a fixed space for notes
of 100 and also the dimension of the new notes has changed, adding
that the holding capacity in the ATM is confined.

“But what takes the most time is manual recalibration. A person has to
come and physically add the money when it runs out. We hope and
are trying that we can sort this problem by end of November. And if
the chaos subsides by then, then we will also start dispensing 50
and 20 rupee notes in coming days,” she said.

Meanwhile, the government has set up a special task force headed
by Deputy Governor of RBI to expedite the process of re-calibrating
the ATMs+ to make them fully functional, which will work with
different banks in this direction.

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