Amid the media reports on the new Rs 100 notes and how it looks, the ATM operations industry provided a shocker with its statement that an investment of Rs 100 crores will be required to recalibrate the country’s 2.4 lakh machines.
This is amid the industry already dealing with the challenges of recalibration to dispense the newly introduced Rs 200 denomination notes.
The body also pointed out that co-existence of both the new and the older versions of Rs 100 notes poses a challenge.
Radha Rama Dorai, the managing director for ATM and allied services for FIS, said there is a likelihood of an imbalance between the supply of the new notes and the withdrawal of the old notes.
This will especially be prominent in the hinterland.
The ATM industry is just about finishing the calibrating the ATMS for Rs. 200 denomination.
This recalibration would again require investment in terms of cost and efforts, it was informed.>