22,500 ATMs to be re-caliberated today; no plan of reintroducing Rs 1,000 notes: Arun Jaitley

Zee Media Bureau

New Delhi: Even as banks are trying to manage huge rush of people thronging branches across the country to exchange invalid currency notes and get cash to meet their daily needs, Finance Minister Arun Jaitley said that 22,500 ATMs will be re-caliberated on Thursday.

As per Zee Media reports, FM Jaitley also took stock of the prevailing situation in the country in the wake of demonetisation of Rs 1000 and Rs 500 notes and found that the situation of over-crowding is slowly normalising.

The Centre has already asked all states to ensure proper security in all banks, ATMs and vehicles transporting cash in the wake of demonetisation of Rs 500 and Rs 1000 notes.

Jaitley, meanwhile, has also said that the government has no plans of reintroducing Rs 1,000 notes into the market.

Amid rising anger among people across India over exchanging the scrapped currency, the government has acknowledged the hardships caused due to withdrawal of high denomination notes but advised the public to be patient as the move will have larger benefits for the economy in long term.

Meanwhile Addressing a press conference in the National capital today, Economic Affairs Secretary Shaktikanta Das said that effective tomorrow, exchange limit will be reduced to Rs 2,000 from earlier limit of Rs 4,500.

“Over the counter exchange of old Rs 500 and Rs 1000 notes, w.e.f 18th November, the existing limit of Rs. 4500 will be reduced to Rs 2000,” Das added.

For wedding ceremonies, upto Rs 2.5 lakh can be withdrawn from the bank account which are KYC compliant, he said.

“One member of the family, be it father or mother can withdraw upto Rs 2.5 lakhs for a wedding,” Das.

Maintaining that there is enough cash with the government, he further said that central government employees up to group C can draw salary advance up to Rs 10,000 in cash that will be adjusted against their November salaries.

Stating that the task force has held a meeting and a road map has been formed to re-calibrate all ATMs Das exhuded confidence that it will be done soon.

“Government has decided to permit farmers to draw upto Rs 25,000 per week against crop loans sanctioned and credited to their accounts,” Das said.