The Reserve Bank of India has set up a task force for expeditious reactivation of all ATMs in a planned manner as recalibration of these machines for dispensing ₹500 and ₹2,000 denomination banknotes in the Mahatma Gandhi (New) Series involves multiple agencies and is a complex operation requiring immense coordination among them. Despite all ATMs remaining shuttered for two days — November 9 and 10 — for re-calibration, following the government demonetising ₹500 and ₹1,000 bank notes with effect from November 9, less than half the number are understood to be up and running. According to RBI data, as on September-end 2016, India had 2,18,542 ATMs.
The reasons being cited by bankers for non-functional ATMs include technical and logistical problems, and cash getting depleted faster due to demand as the ATMs so far have been loaded with only ₹100 and ₹50 notes.
The task force has been set up under the chairmanship of SS Mundra, Deputy Governor, RBI. The RBI underscored that ATMs play a vital role in meeting the currency requirements of the public and have become a major channel for disbursement of cash. Reactivation of ATMs extends the availability and disbursal of notes for customers of banks at a convenient time and location in a judicious mix of higher and lower denominations.
Re-calibration of ATMs involves multiple agencies — ATM manufacturers, National Payments Corporation of India (NPCI), and switch operators.
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