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Soon, ATMs nearest to you will dispense Rs 200 notes

The RBI in July last year had stopped printing Rs 2,000 notes in favour of printing Rs 200 and other lower denomination currencies

BS Web Team 

Rs 200 notes
A man shows new currency notes of Rs 200 and Rs 50 outside the Reserve Bank of India. Photo: PTI

Soon, people will be able to withdraw Rs 200 denomination notes from ATM withdrawals as the (RBI) has ordered the to recalibrate the to ensure that the public is getting more numbers of the currency note.

RBI's latest directive to comes as a big relief for the general public as, as of now, only Rs 100, Rs 500 and Rs 2,000 denomination notes were dispensed through

The in July last year had stopped printing Rs 2,000 notes in favour of printing Rs 200 and other currencies.

The citizens kept pressing the to put in as even after the note was issued by in August last year, the supplying intermediaries were not supplying the

According to the Economic Times report, the banking industry has decided to spend Rs 110 crore for this directive. There are as many as 2,22,000 in India and the cost of recalibrating one such machine is Rs 5,000.

A banker in the condition of anonymity said that has asked the to refill with as soon as possible and that it is a good move as they need notes vis-a-vis Rs 2,000 notes, the ET report said.

The report said, according to the data, the total value of withdrawn through has gone up to Rs 2.44 trillion by September end last year against Rs 2.22 in September 2016.

The data showed that since demonetisation of old Rs 500 and Rs 1,000 notes on November 8, 2016, the currency in circulation has reached 95 per cent of the pre-ban levels.

It is presently at Rs 17 trillion, the data added.

First Published: Thu, January 04 2018. 14:45 IST