Vijayawada banks run out of Rs. 100 notes

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  

Loading of cash into ATMs and their configuration are done by outsourced firms.

ATMs here are not able to dispense Rs.. 2,000 notes, as banks, including the State Bank of India, sources say, haven't reconfigured them for dispensing the currency.

The loading of cash into ATMs and configuration is done by outsourced companies.

Banks are waiting for the nod from their headquarters to take necessary steps in that direction. Banks will have to pay Rs. 1000 to Rs. 1500 to configure an ATM to the outsourced company as service charge. But banks feel It will be a burden for them, if they have to do it case by case. So, they are asking the outsourced companies to do it centrally. But the companies are disinterested in doing so, highly placed sources say.

Banks have nearly ran out of Rs. 100 notes. The currency chests in Vijayawada have dried up and the authorities are waiting for fresh Rs. 100 currency dispatched by the Reserve Bank of India.

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Printable version | Jun 6, 2020 4:54:28 AM |

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