ATM service providers said there was no need for the public to panic as they were making preparations for cash dispensation from Friday.
“The project is complex and a combination of technology and reach of ATMs. We have ramped up our technical team to ensure that all ATMs managed by us have been stopped from dispensing cash from 12 midnight on November 8. We are now working with banks for clearing old cash and loading new ones across the country,” V. Balasubramanian, president, Transaction Processing and ATM Services, Chennai-based FSS, told The Hindu.
“We have created war rooms to design strategy and appointed people who will look at the developments in specific locations. There will be a physical visit to carry out cassette configuration changes. We are keeping our field force informed and ready to carry out changes as required. At the same time, back-end changes are also required if banks want to add any new denomination – Rs.50 or lower in some cases,” Navroze Dastur, Managing Director, NCR Corporation, India and South Asia, said.
FSS said its clients (banks) have given clear instructions as per RBI’s guidance. The firm is in the process of clearing old Rs. 500 and Rs.1,000 notes from ATMS and load new notes as soon as they are made available. The firm manages 40,000 ATMs.
NCR, which manages 20,000 ATMS, said a more coordinated effort between banks, service providers and ATM management companies was being made keeping in mind customer convenience as top priority.
“Cash supply to ATMs are going to be made with Rs.100 initially. Once made available, the new Rs. 500 and Rs. 2,000 notes will be sent,” Mr.Dastur said.
Mr. Balasubramanian said the exercise needed considerable infrastructure, manpower and logistics preparedness and management.
“The cost for such management and ATMs being shut down for two days has created a revenue loss for players like us and we hope that banks compensate us suitably once the task is complete,” he added.
