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Hyderabad: Banks yet to receive new Rs 200 notes

It may be three months before the Rs 200 notes are dispensed from ATMs, as the 1,500 ATMs in the city will have to be recalibrated.

Hyderabad: Though the Reserve Bank of India (RBI) released Rs 200 denomination notes on August 25, people are unlikely to get them before next week as they have not yet arrived at banks in the city.

However, it may be three months before the Rs 200 notes are dispensed from Automated Teller Machines (ATMs), as the 1,500 ATMs in the city will have to be recalibration as per the dimensions and value of the new currency.

M.S. Kumar, general secretary of the Bank Employees’ Federation (Telangana), said that based on their experience in recalibration of ATMs to accommodate the new Rs 500 and Rs 2,000 notes released after the demonetisation, that it may take some time for the Rs 200 notes to be dispensed from ATMs.

“ATM agencies began the recalibration process for the Rs 500 and Rs 2,000 notes in the last week of November last year. The process was completed by January-end this year. Some agencies have not received payments from the banks for the recalibration, and a few ATMs are still not functioning,” he said.

He said that the new Rs 200 notes had not reached banks yet, but they were available at RBI counters. “Except for RBI counters, no bank has the new currency note; we are expecting them on Monday. People can visit RBI counters for the new notes. They will have to wait for a week if they want to get them from commercial banks,” he said.

( Source : Deccan Chronicle. )
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