November 14, 2016 8:55 PM

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'Recalibration of ATMs to provide higher denominations including Rs 2,000 notes begins

Government has set up a special task force headed by Deputy Governor of RBI to expedite the process of re-calibrating the ATMs to make them fully functional. The task force will work with different banks in this direction. Addressing the media in New Delhi about Prime Minister's last night meeting to review the demonetisation and its impact, Economic Affairs Secretary Shaktikanta Das said, the ATM re-calibration has started and some of the ATMs will start dispensing higher denominations, including 2000 rupee notes, from today or tomorrow.<br/><br/>Mr Das said that micro ATMs will dispense cash through debit and credit cards and cash supply would be enhanced to 1.3 lakh branch post offices so that they are able to provide money to account holders. He said, the emphasis of the government is to activate all supply channels whereby cash is dispensed to public. He said, the government has extended use of old defunct 500 rupees and 1,000 rupees notes for paying household utility bills, fuel, taxes and fees and purchases from co-operative stores till 24th of this month.<br/><br/><br/>ATM limit has also been increased to 2,500 rupees, however it will be disbursed only by the re-calibrated ATMs.<br/><br/>Saying that there is no need for public to panic, Mr Das assured that there is enough cash available in the system and situation will ease in coming days. Mr. Das informed that teams of Joint Secretaries have been formed in the Finance Ministry and they have been assigned 4 to 5 states and banks to monitor the demonetization work. He said that the government offices and Public Sector Undertakings have been asked to do all transactions through e-payment mode.<br/><br/>The toll tax will not be collected till the midnight of 18th November to ensure smooth traffic movement across all national highways.

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