ATM recalibration starts, more pain ahead

  |   India News

The uphill task to physically recalibrate each and every one of the almost 2.5 lakh automated teller machines (ATM) in the country to enable them to dispense the new Rs.500 and Rs.2,000 denomination currency notes started on Wednesday, signalling customers may have to contend with a longer wait to withdraw cash as banks shut many of the ATMs to complete the recalibration.

While the task may take some time, banks have been told to focus on completing the task in the top 30 cities by the end of this month, the industry officials said. "It makes sense for a bank to wait till the ATM is recalibrated with the new Rs.500 and Rs.2,000 notes, then the machines can service higher number of customers," said a task force member.

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