To people’s shock and delight, they’ve been carrying bundles of Rs 100, Rs 50 and even Rs 20 and even the new Rs 2,000 notes as they exchange or withdraw money from banks. The ATMs are dispensing Rs 100s in cities as the ATMs across the nation aren’t calibrated to dispense the new Rs 500 or Rs 2,000 notes.
The Finance Minister Arun Jaitley called it a massive operation and said that would take about 2-3 weeks. The reason for not calibrating the ATMs earlier was to maintain secrecy as the task involves thousands of people. And anyway, wasn’t the ban supposed to be Prime Minister Narendra Modi’s big surprise? Along with demonetisation, recalibration of ATMSs seem to be the new buzzwords, and if you are wondering what all the fuss around recalibration is about, here’s what you need to know.
