Task force for ATM recalibration
posted on Nov 14, 2016 @ 4:48PM
A task force has been set up by the Government under the chairmanship of RBI Deputy Governor S S Mundra to ensure that ATMs across the country are ready to dispense higher denomination notes in the shortest time. Following Modi's surprise announcement on 8 November that 500 and 1,000 rupee currency notes would become invalid from midnight, people have been queuing up outside banks and ATMs to either get rid of the defunct notes or withdraw valid smaller value notes. "The number of ATMs which will be recalibrated and which can dispense Rs 2,000 notes will be stepped up...To make this whole process faster, to expedite this whole process, a task force was decided to be set up under the chairmanship of Deputy Governor," Economic Affairs Secretary Shaktikanta Das said. The team has been mandated with working closely with banks and various agencies involved in disbursement of cash and recalibration of hardware and software of the ATM network, he said.