Rs 200 notes: Wait for 3 more months as ATM recalibration is not yet done

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While the RBI launched the 200-rupee note a week ago, it may take up to three months for ATMs to start dispensing the new denomination currency as it will involve a huge exercise of recalibration.

Some banks have even asked the ATM companies to begin testing the new note for recalibration of the machines, though they have not got supplies of the new currency. Only last year, the banks were involved in recalibration of ATM machines after the demonetization of high-value currency notes in November.

Reserve Bank of India (RBI) did issue a statement saying that the supply of the new Rs 200 notes would soon be ramped up, but has not given any time-frame by which it will be available in adequate numbers.

ATM manufacturing companies said that they have not received any directive from the RBI regarding the recalibration of ATMs for the new Rs 200 note. They disclosed that some banks have at an informal level have asked them to start testing of the new note, since it is of a different size.

It is yet to be seen whether all the 2.25 lakh ATM machines across India would be recalibrated for dispensing the new note.

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