New Delhi, Apr 8: Reserve Bank of India (RBI) may not allow ATMs to dispense new Rs 200 note, that is likely to be introduced after June. If media reports are to be believed, the RBI wants to circulate new Rs 200 currency through banks, not ATMs. The move is aimed at avoiding another chaotic recalibration process similar to the one that followed after the demonetisation of old Rs 500 and Rs 1000 banknotes in November last year.
After the withdrawal of Rs 500 and Rs 1000 currency and introduction of new Rs 500 and Rs 2,000 notes, it is been reported that the RBI is planning to print new Rs 200 banknotes. According to a report of Hindustan Times, the RBI has proposed to circulate the new Rs 200 banknotes only through bank branches, similar to the way Rs 50 and Rs 10 notes are circulated. A senior banking official, while speaking to the newspaper, admitted recalibrating India’s 220,000 machines to enable ATMs for dispensing Rs 200 notes, will take more than a month.
