It would take at least three to four months for banks to recalibrate all the Automated Teller Machines (ATMs) in the country for dispensing ₹200 notes, according to an official of an ATM manufacturing firm.
“NCR has already started recalibrating ATMs for banks for the issue of ₹200 notes,” said Navroze Dastur, managing director, NCR Corporation India.
“So far, we have recalibrated 4,000-5,000 ATMs.”“The recalibration of ATMs in our network, to be done in a phased manner, will be completed within three months,” said Ravi Goyal, chairman and managing director, AGS Transact Technologies, another ATM manufacturer.
Recently, the Reserve Bank of India had directed banks to recalibrate ATMs to enable them dispense ₹200 notes.
Currently, ATMs can dispense only ₹100, ₹500 and ₹2,000 notes.There are about 2.40 lakh ATMs in the country of which NCR has more than 1.10 lakh units.
AGS Transact has 60,000 units and Financial Software and Systems Pvt. Ltd. (FSS) 40,000.Both NCR Corporation and Chennai-based FSS along with six to seven banks and other ATM manufacturers successfully initiated a pilot to recalibrate ATMs for dispensing the ₹200 notes.
“Assuming that all the ATMs in the country are recalibrated, the exercise will be completed in 90-120 days,” said Mr. Dastur.
According to V. Balasubramanian, president — retail services, FSS, the firm was expecting the banks to finalise compensation for recalibration.
