Every newly introduced note in country’s currency takes atleast 3 months to start dispensing from ATM due to huge recalibration process.
Although ATM companies are asked to begin testing the 200 Note in machine for recalibration, not enough stocks have been received by them. It was the demonetisation time when companies made this process even faster to balance to cash in nation.
On another side, RBI did not clear any time frame to make 200 note fully rotational. They have just cleared the ‘enough quantity’. But, it is also rumoured that due to size unmatch, newly introduced note will take time to recalibrate. There are 2.25 lakh ATM machines in India.
The dimension of 200 Note is different from all currency notes till date and hence its reconfiguration in ATM machines cassettes is super-challenging task, from deep. Among other companies, who are engaged in this process are NCR Corporation, which has over 1,08,000 machines, and BTI Payments, which has 4,500 cash dispensers.
K Srinivas, Managing Director and CEO of BTI Payments, an RBI-licensed firm that operates cash dispensers not owned and managed by banks, said, “Recalibration will begin as and when we receive adequate quantity of Rs 200 notes. We are looking to roll this out as quickly as possible.”
One more thing is, the production of 200 Note is being ramped up by the currency printing presses as more qunatity is distributed to bank channel.
SBI and PNB reported to get quantity of notes but Eknath Baliga, Manager, KYC-Antimoney Laundering Cell, Corporation Bank, Mangalore, said that none of its branches across the country had received the Rs 200 notes so far.
Although, not getting 200 Note is manageable but it may make difference in certain scenario to prefer this note.