Rs 100 cr needed to calibrate ATMs for new 100 rupee notes

By NT Bureau Published on Jul 21, 2018 03:59 PM IST

Chennai: The ATM operations industry has said the introduction of new Rs 100 notes create many challenges and an investment of Rs 100 crore will be required to recalibrate the country’s 2.4 lakh machines.

The introduction, which comes even as the industry is just about finishing the recalibration to dispense the newly introduced Rs 200 denomination notes may only aggravate the pain, they said.

"We need to recalibrate ATMs for the new Rs 100 note. In India, therefore around 2.4 lakh ATMs will need to be recalibrated," president of FSS who also serves as the director of industry lobby Catmi, V Balasubramanian, said.

He added that the co-existence of both the new and the older versions of Rs 100 notes poses a challenge.

The RBI had on Friday announced that it will soon issue a new Rs 100 note in lavender colour having motif of Rani ki vav, a stepwell located on the banks of Saraswati river in Gujarat’s Patan.