Special task force set up to expedite ATMs’ recalibration, says Economic Affairs Secretary

Mangalore Today News Network

Nov 14, 2016: Hours after Prime Minister Narendra Modi chaired a meeting of senior Cabinet Ministers, Economic Affairs Secretary Shaktikanta Das on Monday briefed the media on the demonetisation issue and its impact. A special task force was set up to expedite the process of recalibrating the ATMs across the countries. RBI Deputy Governor will chair the task force which has representatives from the Ministry of Home Affairs, financial services and banks, Das said.

 

He said that old Rs 500 and Rs 1000 notes will be accepted till November 24 midnight for a certain category of transactions. Also, the daily withdrawal limit has been raised to Rs 2,500, meaning the recalibrated ATMs will be able to dispense new Rs 500 and Rs 2000 notes, Das said. There will be Separate queues for those visiting banks, including senior citizens and “divyang”,  to swap currency notes, he added.

There is enough cash in the system, there is no reason to panic: Shaktikanta Das.

To ease congestion at banks, there will be separate queues for those visiting to swap money: Shaktikanta Das.

Government got a lot of representations from businesses regarding payment of daily wages to workers. We are increasing the operational limit of business entities with current accounts to Rs 50,000: Shaktikanta Das.

Rs 10,000 daily limit has been removed and the weekly limit has been raised to Rs 25,000: Shaktikanta Das.

Shaktikanta Das compliments the efforts of banking staff by working overtime to streamline the process of demonetisation.

The functioning of micro ATMs will be strengthened: Shaktikanta Das.

A special task force has been setup to expedite the process of recalibrating the software and hardware of the ATMs: Shaktikanta Das.

ATMs will be reclibrated to dispense new Rs 500 and Rs 2000 notes: Shaktikanta Das.

Banking correspondent will be now allowed to withdraw cash multiple times as opposed to only once a day earlier: Shaktikanta Das.

There are more than one lakh branch post offices, the decision was that the supply of cash to these would be enhanced: Shaktikanta Das.

The focus of the Govt is to activate all channels whereby cash is dispensed to the public: Shaktikanta Das.