ATMs not configured for Rs. 2000

A closed ATM is seen at MG Road in Vijayawada. File photo: Ch Vijaya Bhaskar

A closed ATM is seen at MG Road in Vijayawada. File photo: Ch Vijaya Bhaskar  

The ATMs across the country may not be able to dispense cash though the banks have enough stock of Rs.. 2,000 notes. The banks haven’t geared up to issue the Rs.. 2,000 note through the ATMs. The banks will have to configure the ATMs to load the Rs.. 2,000 notes in the machines.

But, majority of banks, including State Bank of India (SBI)., sources say, haven’t configured the ATMs. The loading of cash into ATM machines and configuration is done by outsourced company.

The banks are waiting for a nod from their headquarters to take necessary steps in that direction, the banks will have to pay Rs. 1000 to Rs. 1500 to configure one ATM to the outsourced company as a service charge. . It will be a huge burden for the banks, if they would have to do it case by case. So, the bank authorities are asking the outsourced companies to do it centrally, for which the companies are disinterested, highly placed sources say.

The banks have nearly ran out of Rs. 100 notes. The currency chests in Vijayawada also dried up. The currency chest authorities are waiting for Rs. 100 currency dispatched by the Reserve Bank of India (RBI).As a result,the banks can neither replenish Rs, 100 notes, until they received from the chests, nor can load the Rs. 2,000 notes for want of configuration.

The customers are also unwilling to accept Rs. 2000 notes in view of non-availability of lower denomination notes.

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Printable version | Jun 6, 2020 1:40:50 AM |

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