Rs 500, Rs 1,000 ban: RBI says all is well but we went to 12 ATMs and most were shut - Firstpost
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Rs 500, Rs 1,000 ban: RBI says all is well but we went to 12 ATMs and most were shut

#ATM   #Bank of India   #Black money   #Cash   #currency ban   #Fake currency   #ICICI Bank   #Money   #RBI   #Rs 1000   #Rs 500   #SBI  


The Reserve Bank of India has said in a statement today that there’s enough cash available with banks and all arrangements have been made to reach the currency notes all over the country. The apex bank urged public to exercise patience and exchange notes at convenience.

The central bank said it may take a while for the banks to recalibrate their ATMs; once the ATMs are functional, members of public will be able to withdraw cash from ATMs. Until 18 November, customers can withdraw a maximum of Rs 2,000 per card per day and after that up to Rs 4,000 per day per card.

Queue at an ATM

Queue at an ATM

The RBI says that several ATMs have started functioning from this morning as the banks could complete recalibration of these machines to allow withdrawals up to Rs 2000 to begin with.

However, we visited 12 ATMs so far in Byculla and Mazgaon area in South Mumbai. None of the ATMs, especially the stand alone ATMs had any money in it. Even ATMs at bank branches, the ATM section had shuttered down along with loads of people trying to get into the bank. Some ATMs even had a shutters down and some didn’t even have security guards. People were constantly getting disappointed.

One ATM security guard said he has pulled the shutter down since there isn’t any cash. Watch the video to see the whole story.

First Published On : Nov 11, 2016 17:13 IST

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