Banks will not have to bear the additional cost of recalibrating the automated teller machines (ATMs) following the withdrawal of the ₹2,000 currency notes, as most of them are already in the process of migrating to lockable cassettes. Banks will replenish ATMs by swapping loaded cassettes with empty ones instead of loading cash in the machines on the spot.
The Reserve Bank of India (RBI) Friday said ₹2,000 denomination notes can’t be used for transactions after September 30 and asked banks to stop issuing this denomination to customers. “We don’t see any major impact on the ATM front, already, as per RBI directions, stakeholders have submitted the plan for implementation of lockable cassettes in 30 cities for both white label and bank-run ATMs,” said a senior bank executive.
