ATMs to dispense new notes after 2-3 weeks: Jaitley

If ATMs were recalibrated before the announcement then there would have been no secrecy.

GN Bureau | November 12, 2016


#ATMs   #currency   #Arun Jaitley  


 It will take another two to three weeks for ATMs to get recalibrated in order to dispense new currency notes of Rs 500 and 2,000 denominations, said finance minister Arun Jaitley on Saturday. 

Calling it “technology limitation”, Jaitley said that it takes time to recalibrate ATMs as the size of new notes is different from the old ones.
“Technical people have to go to each ATM to make them compatible with new note. It will take time,” Jaitley said.
 
There are more than two lakh ATMs across the country. “If they were recalibrated before (the announcement to scrap the Rs 500 and Rs 1,000 currency notes), then there would have been no secrecy,” said Jaitley while addressing the media in Delhi on the problems being faced by people due to demonitisation of currency. 
 
He stressed that people are co-operative and the situation is “calm” on the ground. He added that banks have “sufficient” amount of new notes, and that people need not to be in a hurry to withdraw cash.   
 

Comments

 

Other News

Reform first, privatise later: Bibek Debroy to railways

Before privatisation and corporatisation, the Indian Railways need to undertake major reforms including commercial accounting, decentralisation and human resource among others, said Bibek Debroy, economist and member, NITI Aayog at Railways Reforms and Governance Conclave organised by Governance Now on Fri

NTPC plans for 32 GW installed capacity via renewable sources

NTPC Ltd has raised Rs 2,000 crore through green masala bonds in overseas market under its $4 billion medium term note programme, union minister Piyush Goyal informed the Lok Sabha. The proceeds of these bonds will be used for financing renewable energy projects in accordance with applicable

Big test for Palanisami

It’s been over a month since the power centre in Tamil Nadu shifted from Poes Garden to Greenways Road in Chennai. The thirteenth chief minister of the state, Edappadi K Palanisami, is taking baby steps to bring about a change in the state which has been battling political uncertainty for the past fe

A trowelful of empowerment

When her husband died last year, 60-year-old Chakkamma was not sure whether she would be able to have some money of her own: she has a son who looks after her, but she wanted to maintain a degree of independence. Opportunity came knocking when the Tamil Nadu government, as part of its Pudhu Vaazhvu (or new

Should Shiv Sena MP Ravindra Gaikwad be arrested for assaulting an Air India employee?

Should Shiv Sena MP Ravindra Gaikwad be arrested for assaulting an Air India employee?

Railways suffered over Rs 33,000 crore loss on passenger service: CAG

  The Railways was unable to meet its operational cost of passenger and other coaching services. During 2014-15, there was a loss of Rs 33,821.70 crore on passenger and other coaching services. The freight services earned a profit of Rs 38,312.59 crore which indicated that 88.28 percent

Video

जानिए क्यों ये किसान अर्धनग्न अवस्था में बैठे हैं जंतर मंतर पर

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter