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Customers will no longer get Rs 2,000 currency notes at Indian Bank ATMs

According to a circular issued by the lender's digital banking division on February 17, cash dispensation from Rs 2,000 currency cassettes would be disabled at all ATMs and cash recyclers on March 1

Gireesh Babu 

Money, Rs 2000, 200 notes, Rupees

Customers would no longer get Rs 2,000 denomination notes at Indian Bank ATMs, with the lender advising its branches to immediately stop loading that currency at its ATMs and cash recyclers.The bank said the high-value notes were an inconvenience to customers who found it hard to exchange those in retail outlets and other places. According to a circular issued by the lender’s digital banking division on February 17, cash dispensation from Rs 2,000 currency cassettes would be disabled at all ATMs and cash recyclers on March 1, 2020. The branches, though, will continue to offer the currency notes, according to sources. "Customers are coming to branches to exchange the Rs 2,000 currency notes withdrawn from ATMs, with low-value denomination notes, which is defeating the very purpose of migrating the customers to alternative delivery channels," it said.
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First Published: Sat, February 22 2020. 01:54 IST
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