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Rs 1 billion needed to recalibrate 240,000 ATMs for new Rs 100 notes

The difference in dimensions of the old and new Rs 100 notes could pose a serious problem

Nikhat Hetavkar & Arup Roychoudhury  |  Mumbai/Delhi 

New Rs 100 notes will require a recalibration of 240,000 automated teller machines (ATMs) across the country, and the process will cost the industry about Rs 1 billion and take more than a year, said ATM operators.

The Reserve Bank of India (RBI) announced on Thursday it would soon release lavender-coloured Rs 100 notes bearing the signature of Governor Urjit Patel. The dimensions of the new banknote, according to the RBI’s notification, would be 66 mm x 142 mm, significantly smaller than the existing one, which measures 73 mm x 157 mm. “We believe the exercise of ...

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First Published: Sat, July 21 2018. 02:38 IST
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