There is a reason for ATMs still being non-functional. Know it here
Posted on: 11/Nov/2016 3:51:05 PM
Following a nationwide shutdown for two days, all banks and ATMS are supposed to make available the new currency notes of denominations 500 and 2000 from today. However, most people are seen standing in long queues in ATMs with disappointed faces as many of them are not operational. There arises a question why. Why are ATMs still shut and why are they still offline?
First of all, the ATM cassettes need to be configured so that it can hold the incoming Rs 100 notes and these should further be made to issue the new notes of Rs 500 and Rs 2000 denominations. For those of you who do not know what cassettes are, those are boxes fit into the ATM for dispensing cash to customers.
In most ATMs in India, there are four types of cassettes being used each with a type of denomination of cash depending on the currency type.
So, as of now, most of the ATMs have got cassettes only to hold Rs 100 and Rs 500 and Rs 1000 notes. These configurations should now be changed manually. Hence, technicians need to be sent to all ATM centres in order to make the desired change, according to the Managing Director of NCR Corporation, Navroze Dastur.
