-Business Standard The difference in dimensions of the old and new Rs 100 notes could pose a serious problem Mumbai/ Delhi: New Rs 100 notes will require a recalibration of 240,000 automated teller machines (ATMs) across the country, and the process will cost the industry about Rs 1 billion and take more than a year, said ATM operators. The Reserve Bank of India (RBI) announced on Thursday it would soon release lavender-coloured Rs...
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ATMs run out of notes: Here's the reason behind the massive cash crunch -Somesh Jha
-Business Standard Although the rate of cash circulation has surpassed the pre-demonetisation level, it is not in tandem with the rate of economic growth Automated Teller Machines (ATMs) across various states are running dry with the present situation reminiscent of demonetisation of high-value currency notes one-and-a-half years back. States, including Gujarat, Uttar Pradesh, Madhya Pradesh, Bihar, Andhra Pradesh, Manipur and Telangana, have reported shortage of cash at ATMs. A stock-taking analysis submitted by...
More »One year after demonetisation, cash is still king -Roshan Kishore
-Livemint.com Cash scarcity led to a spike in digital payments post demonetisation, but the trend reversed as remonetisation picked up pace New Delhi: Soon after demonetisation was announced on 8 November last year, it was projected as part of a broader push towards a cashless economy. Several ministers and government officials claimed that this would nudge Indians to rely on non-cash or digital payments. In the weeks and months following demonetisation, digital payments...
More »ATM expansion slows due to note ban -Manojit Saha
-The Hindu Replacement of systems more than 7 years old, Centre’s digital push lead to cutting down on new installations A combination of factors, including cash crunch following demonetisation of high value notes announced in November last, have led to commercial banks cutting down on the number of automated teller machines (ATMs) particularly those not located in branches (off-site ATMs), latest RBI data showed. According to Reserve Bank of India (RBI), there were...
More »Demonetisation: Micro-ATMs, Point of Sale asked to guard against cyber attacks
-PTI NEW DELHI: With the usage of micro-ATMs and POS counters witnessing a sharp surge post demonetisation, the country's premier cyber security agency CERT-In has cautioned customers, bankers and traders against skimming and malware attacks on these systems and asked them to adopt high-end encryption to plug possible breaches. The CERT-In, nodal agency to combat hacking, phishing attacks and to fortify security-related defences of the Indian Internet domain, has issued two specific...
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