Reserve Bank of India announces task force to re-calibrate ATMs

MUMBAI: Reserve Bank of India ( RBI) has formed a task force under deputy governor SS Mundra to re-calibrate all ATMs and cash dispensing machines with the new Rs 500 and Rs 2000.

In a media release the central bank said that the task force will expedite reactivation of all ATMs in a planned manner and also see to it that the new notes are dispensed.

Dispensation of notes to ATMs has been an issue for the last three days after the old Rs 500 and Rs 1,000 notes were pulled out from circulation from midnight on Tuesday. Many ATMs have still not been stocked with the new notes and are shut even as Rs 100 denomination notes are in short supply.

The Mundra led task force will comprise of representatives from the government, large banks like SBI, Axis Bank, ICICI Bank and HDFC Bank, National Payments Corporation of India and select chief general managers CGM from RBI.

“Re-activation of ATMs extends the availability and disbursal of notes for the customers of banks at convenient time and location in judicious mix of higher and lower denominations,” RBI said.

Representatives from ATM service providers, technology companies will also be invited, RBI said.