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Unavailability of Rs. 200 Notes to be Anticipated
October 24, 2017
Although the currency notes of Rs. 200 denomination were issued by the Reserve Bank of India way back in August, they will be available to the public only by the year-end. While the ATM operators blame it on the unavailability of the notes itself, the truth is that the banks are not showing interest on their part.
For the new notes to be available to the public, the banks have to get their ATM machines recalibrated. However, only a few are showing interest in the same.
Rakesh Sharma, chairman, Canara Bank, said that recalibration is a slow and tedious task that takes weeks. Earlier, at the time of demonetization, the workers had to work endlessly to complete the process. However, now there is no such urgency, he said.
