3 weeks to re-calibrate 2 lakh ATMs: FM
posted on Nov 12, 2016 @ 4:56PM
“The Finance Ministry is constantly monitoring the currency exchange,” Arun Jaitley said at a press conference. The Centre has asked all states to ensure proper security to all banks, ATMs and vehicles transporting cash in the wake of demonitisation of Rs 500 and Rs 1000 currency notes. It will take at least three weeks to recalibrate ATMs according to the new Rs 500 and Rs 2,000 currency notes, Finance Minister Arun Jaitley said on Saturday, signalling that the wait for smooth cash flow could get longer. Union Finance Minister Arun Jaitley held a press conference at the National Media Centre, New Delhi after a meeting he had with heads of three banks, including SBI, the country's largest bank. The central government is expecting the financial situation to be normal in the next four-five days. Banks and ATMs on Saturday witnessed more chaos and even longer queues as cash-starved people jostled to exchange and withdraw money at bank branches, even as cash dispensing machines went dry soon due to heavy rush.