Recalibration of Automated Teller Machines (ATMs) all across the country has started, there are almost 2.5 Lakhs ATMs in the country. These ATMs would be physically recalibrated, which is going to be a painful process for many people, in search of cash. People are only getting Rs 100 notes from the ATMs because the machines are not able to identify the new Rs 500 and Rs 1000 notes. The cassettes in the machines would be changed so that it would be able to cater to a large number of people in less time.
Due to this recalibration, various ATMs in the country would be closed. Reserve Bank of India Governor S.S. Mundra, is heading the task force for reactivation of ATMs, instructed the banks on how to get through the recalibration of ATMs. According to sources, the banks have been asked to recalibrate 12,500 ATMs every day. The banks would follow a specific route, as decided by the task force, to make the whole process go smooth. However, the entire process is going to take some time, for a long term profit.
The banks have been asked to finish the recalibration of ATMs in top 30 cities, by the end of this month.
The entire process would be carried out in two phases – One, at the central switch of a particular bank, and two, at the ATMs where the work needs to be physically done. The government has acknowledged, that the non-functioning of ATMs would be distressing for many, however, it can go on like this, for some more time. Apart from the main ATMs, the off-site ones would also be recalibrated very soon.
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17 November 2016
Jyotsna Amla