Nearly 90% of ATMs across India recalibrated to dispense Rs 500, Rs 2000 notes

New Delhi: Even as millions of people continue to face acute cash shortage, a key maker of ATMs have informed that almost 1.85 lakh or 90 percent of the 2 lakh machines deployed across the country have been recalibrated and will dispense the new Rs 2000 and Rs 500 notes soon.

Following the demonetisation of the old Rs 1000 and Rs 500 notes by the government on November 8 and the introduction of new Rs 2000 and Rs 500 notes with bettery security features, the ATMs needed to be calibrated.

Finance Minister Arun Jaitley had on November 12 announced that all ATMs across the country would be calibrated in the next three weeks.

As per the announcement and the plan, the recalibration of the machines were supposed to have been completed yesterday (November 31).

However, an ATM manufacturer informed that about 90 percent of the work has been completed and will dispence the new notes soon.

"A working group, formed under a RBI headed task force, was given a deadline to recalibrate all the ATMs by November 30. About 90 per cent, which is around 1.80 lakh ATMs, have been re-calibrated so far to dispense new Rs 500 and Rs 2,000 notes," ATM manufacturer NCR Corporation's managing director, (India & South Asia) Navroze Dastur told PTI.

Following the announcement to scrap old high currency notes, a task force was set up on November 14 under the chairmanship of Reserve Bank deputy governor S S Mundra to oversee the recalibration process of all the ATMs.

Under the task force, a working group was formed which included of representatives of ATMs manufacturers like NCR, Diebold Nixdor, cash in transit companies and managed service providers, among others.

Dastur said the working group consisted of around 40-60 people and they have been recalibrating on an average 12,000 ATMs per day.

He said the rest of the ATMs would be re-calibrated over the next 10 days to dispense new notes.

With PTI Inputs