200 Notes will Take 2-3 Months to be Regulated.

The Reserve Bank Of India released the new 200 rupee note in the last week of August but most of the ATM machines in the country has not received them yet. If you were expecting to get the notes by earliest, this news won’t make you any happier.

According to the sources, the ATM machines need to be updated and regulated to dispatch the new 200 rupee note. It will take approximately 2-3 months to do so. There are around 2.25 lacs ATM across the country and they should all be tuned to dispatch the new currency so it is bound to take some time. For now, the new notes are available in selected banks and ATMs only.

 

 

What do ATM makers have to say?

The company head of one of the ATM maker Ravi B. Goyal said, “The process of updating old ATM can only be done once the RBI asks us to do so. The dimensions of the new note are different from the ones being used currently, so it would take around 90 days to make the necessary changes. The new notes are made available to us through the banks.”

Another ATM making company said that the banks have started contacting them to make the amendments in the ATM machines to dispatch the new notes as soon as possible. They will have to decide on whether to make new machines for dispatching the notes or the old ones can be tuned and programmed to do so.

SBI and PNB have the new 200 rupee notes:

According to other information, only SBI and PNB has received the new 200 note and you can make it available by going to their respective branches. When contacted the other private banks, they denied receiving any new notes from RBI. now it is to be seen as how much time will it take to get the new notes from the nearest ATM.

 

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