Rao explains that most banks have got hold of whatever cash they could and dispatched it to branches, and now the rest is planned for ATMs. Banks have called OEMs and service providers to decide on settings, taking advice on settings and jotting a plan. If an ATM’s servicing has been outsourced to a cash service agency, meaning the ones who hold the combination lock to cash, then they will have to accompany the engineer. So, the engineer will get the cassette configured and the cash service agency will fill in the cash. In case a bank hasn’t outsourced and fills the cash itself, then a bank custodian will have to accompany the engineer.
Now, the uphill task is to ensure cash availability, availability of the engineer, cash service agency or bank custodian all at the same place and time, and then manage the same for an entire network across India from cities and towns to the remotest villages with ATMs. “CMS has been given a list and the engineers are now running around. The next 3-4 days will be very hectic,” he adds.
Depending upon its network, it may not take 2-3 weeks. But there are players with bigger and denser networks. For instance, co-ordination could be an even tougher task for companies like NCR, which manage more than 100k ATMs. It could take them 10-15 days to sort things out. ‘It’s coordination that everyone is now trying their best at,” he adds.
(Sourced from agencies, feature image courtesy:economictimes.indiatimes.com)
