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Rs 200-note recalibration: ATM operators see Rs 1.2-bn bounty on RBI diktat

The process will require an engineer to visit each ATM location and recaliberate one of the cassettes to accommodate the Rs 200 notes

Press Trust of India  |  Mumbai 


have started recaliberating the vending machines (ATMs) to dispense the new Rs 200 banknotes which were introduced last August.

There are nearly 2.4 lakh automatic machines (ATMs), which includes around 30,000 recyclers. A recycler machine can dispense and accept cash.

According to industry experts, the overall recaliberation process may cost Rs 100-120 crore.

"We started recaliberation a few days back with some We have done about a few thousand ATMs for about five-six banks," manufacturer and service provider NCR Corporation said.

Each has four cassettes and banks decide on which denomination of the currency is to be put in each of them and then accordingly recaliberation is done, he said.

The process will require an to visit each location and recaliberate one of the cassettes to accommodate the Rs 200 notes, Dastur said.

said "based on the banks' direction we have been recaliberating the cassette for Rs 2000 for Rs 200 notes now. Over time, the current mix of Rs 2,000 and Rs 500 notes will move to Rs 100, Rs 200 and Rs 500 notes."

He said the process started a few months back and only 4,000 of the total of 2.4 lakh machines have so far been reclaiberated.

Of the 2.4 lakh cash dispensing and cash recyclers machines, NCR has deployed close to 1.10 lakh ATMs. Hitachi has 55,000, which it has either deployed or managing it.

Dastur said the average cost of recaliberate an ATMs is Rs 3,000-4,000, taking total cost of 2 lakh ATMs would be around Rs 100 crore.

It could be noted that before this, banks had undertaken a massive recaliberation exercise after the November 2016 note-ban.

The Reserve had then to recaliberate their ATMs in a very short duration to accommodate new Rs 500 and Rs 2,000 notes.

"This time there is no emergency or rush. It is going to be a better and planned activity, spread over a larger number of days. If it is a planned one then it is a 90 days activity," Dastur added.

First Published: Thu, January 04 2018. 23:15 IST