ATMs will be recalibrated in 2-3 weeks: Few take-aways from Arun Jaitley's address

The Finance Minister on Saturday took stock of the on-going currency replacement move taking place across India

Finance Minister Arun Jaitley on Saturday took stock of the on-going currency replacement move taking place across India after the government decided to demonetise the old Rs 500 and Rs 1000 currency notes.

Here are a few take-aways from his address:

1) ATMs have not been recalibrated with Rs 2,000 currency notes.

2) Calibration of ATMs would be completed in the next two to three weeks.

3) SBI has carried out monetary transactions worth Rs 54,370 crore in the past two and half days, while the number of cash replacement transactions were at 2.28 crore. 

4) Rs 47,868 crore has been deposited in SBI so far.

5) There will be no exemption for religious organisations and NGOs.

6) Rumours about salt shortage and chips in the new Rs 2,000 notes are false.

7) Wholesale and large business dealers have been advised to resort to digital transactions for carrying out daily operations.