As per the plan rolled out by the RBI, all the ATMs should have been ready by 30th Nov 2016 , but on 1st December the banks faced a huge challenge as thousands queued up at banks and ATM’s only to be sent back without cash.
These machines needed to be re-calibrated after the government on 8 November announced the scrapping of old 500 and 1,000 rupee notes in a bid to crack down on black money, and introduced of new 500 and 2,000 rupee notes of different size and high security features.
“A working group, formed under a RBI headed task force, was given a deadline to recalibrate all the ATMs by 30 November. About 90 percent, which is around 1.80 lakh ATMs, have been re-calibrated so far to dispense new Rs 500 and Rs 2,000 notes,” ATM manufacturer NCR Corporation’s managing director, (India & South Asia) Navroze Dastur told PTI.
Following the announcement to scrap old high currency notes, a task force was set up on 14 November under the chairmanship of Reserve Bank deputy governor S S Mundra to oversee the recalibration process of all the ATMs.
Under the task force, a working group was formed which included of representatives of ATMs manufacturers like NCR, Diebold Nixdor, cash in transit companies and managed service providers, among others.
But despite the 90% of ATM’s being recaliberated , most of them could not see cash being loaded in them for dispensing to the people.
People in large numbers queued up outside banks and ATM’s on Thursday to withdraw cash from their first salary received after the November 8 demonetisation.
At Lakshmi Nagar in east Delhi, hundreds queued up outside the only three ATMs that were dispensing cash.”Though the limit on withdrawals is Rs 24,000, banks are giving away only Rs 5,000,”complained Rajesh a Delhiite. “I have been standing here for the last three hours.”
The scenes were not very different in other cities .”I have to pay my rent, maid, newspaper guy and many others. I am not sure I will get cash as this ATM works only for an hour after it is refilled,” Rohini, a BPO employee waiting outside Infantry Road ATM, said.