RBI urges patience even as ATMs run out of cash

MUMBAI; The Reserve Bank of India (RBI) has appealed to the public to be patient while exchanging their demonetised currency notes while reiterating that there is enough cash available with banks.

In a press release on its website RBI said it has made arrangements to distribute currency all across the country but it may take a while for banks to recalibrate their ATMs.

“Once the ATMs are functional, members of public will be able to withdraw from ATMs up to a maximum of Rs 2,000 per card per day up to November 18, 2016; and after that up to withdraw Rs 4000 per day per card,” RBI said.

Some ATMs have been reopened after a two day gap today, however, many of them are already out of cash.

Bank branches have been allowing currency exchanges of up to Rs 4,000 since Thursday a day after the government withdrew Rs 500 and Rs 1000 bank notes as legal tender.

Depositors can deposit any amount of withdrawn notes into their bank accounts but can only take out up to Rs 10,000 per day. The facility to exchange the demonetised Rs 500 and Rs 1000 notes is available for nearly 50 days.