Business Standard

Phasing out? Only 15-20% of ATMs dispense Rs 2,000 currency note

Cash dispensers reconfigure cassette with lower denominations

ATMs, ATM industry
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Manojit SahaSubrata Panda Mumbai
The non-availability of Rs 2,000 denomination currency notes in the banking system has prompted commercial banks to reconfigure the cassettes of cash dispensers in automated teller machines (ATMs) so that they can hold lower denominations.

Large ATM manufacturers say only about 15-20 per cent of ATMs have the Rs 2,000 denomination cassette, which was configured during the demonetisation exercise of 2016.

There are about 220,000 ATMs managed by different banks, apart from 31,500 white-label ATMs as of March 2022. Industry players said the unavailability of Rs 2,000 notes is the reason why cassettes of most ATMs have been reconfigured.

“The

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First Published: Mar 23 2023 | 8:19 PM IST

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