‘Banks need enough supply of notes before tweaking ATMs’
Automated teller machine (ATM) recalibration for dispensing the new ₹100 note could take 12 months, or more if not planned properly, ATM manufacturers said.
On Thursday, the central bank had said a new series of the ₹100 note would be put in circulation soon. The new notes, which will be smaller than the existing ones, may come into use in August. As a result, ATMs will have to be once again recalibrated as they were when ₹2,000, ₹200 or the new series of ₹500 were introduced.
“The exercise of recalibration for the new ₹100 note could take over ₹100 crore and 12 months,” said Loney Antony, MD, Hitachi Payment Services. The exercise would involve about 2.4 lakh ATMs in the country, he added.
‘₹200 recalibration on’
“As the new ₹200 note recalibration for all ATMs is still not complete, the recalibration for the new ₹100 note could take longer, unless planned properly,” he said.
ATM manufacturers said banks will start the exercise only after they gain confidence regarding adequate supply of the new ₹100 note. “Banks will gradually, in a phased manner, recalibrate the ATMs for the new ₹100 note,” said a senior official of a ATM manufacturer.
“[When] banks get the confidence that there are ample number of new ₹100 note available with them, only then will they recalibrate the machines. Because, after recalibration, ATMs will not be able to dispense the old ₹100 notes.”
“Continuity of old notes, introduction of new notes through the ATM channel and their availability will determine whether to recalibrate,” V. Balasubramanian, director, Confederation of ATM Industry (CATMi) said.
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