Mumbai, Nearly 50 per cent of the Automated Teller Machines (ATMs) may be shut down by March 2019 due to unviability of operations, hitting hard both urban and rural population, the Confederation of ATM Industry (CATMi) warned on Wednesday. Currently, India has approximately 2,38,000 ATMs, of which around 1,13,000 ATMs[Read More…]
Tag: ATMs
No eyes, No ATMs: Tiruchy deprives visually challenged people of ATM cards
Tiruchy banks deprive visually impaired people of availing ATM facilities on the grounds of their disability. This has added to their troubles as now they have to stand in long queues of banks for money withdrawals. According to visually impaired people, this is a common practice across Tamil Nadu state[Read More…]
New Rs 100 note brings worry to ATM operators
Earlier this week, Reserve Bank of India (RBI) announced launching a new series of 100-rupee notes. However, the move has brought along a fresh headache for the major companies engaged in the manufacture and supply of Automatic Teller Machines (ATMs) in the country. Like the new post-demonetisation Rs 2,000, Rs[Read More…]
Maharashtra: 100 petrol pumps along highways to have toilets, ATMs, restaurants
The Maharashtra will allot space for 100 petrol pumps along the state highways with public facilities such as toilets, ATMs and restaurants. The state will also identify 300 additional petrol pump locations where these facilities can be introduced. The government has signed a Memorandum of Understanding (MoU) with public sector[Read More…]
Rs 200 notes to hit market by Deepawali
The finance ministry had given the go-ahead to print Rs 200 notes in July. It was also said that the Rs 2,000 were no longer being printed in a bid to push more of the Rs 200 notes into the market. Rs 200 note will be smaller in size and[Read More…]
Demonetisation: Cash crunch to normalise by February 2017: Report
Over 75 per cent of the total value of scrapped notes is expected to be back in the system by January-end and complete normalcy is likely in next two months, says a report. According to SBI’s research report Ecowrap, given the current phase of frantic printing, 50 per cent and[Read More…]
Old Rs 500 notes valid till Dec 2 for fuel, air ticket purchase
The government on Thursday cut short the deadline of using old ₹500 notes at petrol pumps and for buying airline tickets at airports till December 2 instead of December 15 announced earlier. With effect from December 3, 2016, old ₹500 notes cannot be used for the purchase of petrol, diesel[Read More…]
No transaction charges on debit card payments, says government
The government on Wednesday said no transaction charges will be levied on debit cards till December 31. All public sector banks and some private sector ones have agreed to waive the transaction cost for all payments made through debit cards, Economic Affairs Secretary Shaktikanta Das told reporters in New Delhi.[Read More…]
BJP drags feet on recommendations of own task force on black money
The Narendra Modi-led government claims that the demonetisation move is aimed at dealing with the menace of domestic black money but the party has failed to implement study of a task force constituted by it to retrieve the black money. Instead of implementing recommendations of its own task force, the[Read More…]
Demonetisation: Time to transport cash to banks cut from 21 to 6 days
In a bid to ease the cash crunch chaos, the government has managed to cut down the transportation time of cash from printing to the main distribution centres from 21 days to six and is using all modes of transport, including helicopters and Indian Air Force planes, to move the[Read More…]
Civilians assist policemen in managing queues at banks, ATMs in Delhi
More than 250 civilians have been assisting police personnel in southwestern range in managing long queues outside banks and ATMs as part of the ‘Police Mitra’ initiative by Delhi Police, which will be formally launched on Saturday. In the southwestern range, comprising west and southwest districts, 294 civilians, including 49[Read More…]
ATM now means ‘Aayega Tab Milega’, says Mamata
After leading a march of opposition parties to Rashtrapati Bhawan on Wednesday, West Bengal Chief Minister Mamata Banerjee said now common people have to wait for cash to arrive in ATMs, which was initially meant to dispense cash whenever a user needed it. “Initially ATM meant ‘All time Money’ now[Read More…]
Goa government employees demand salary in cash
Goa government employees have demanded that their salary for the current month be paid in cash rather than be deposited in bank accounts, considering the difficulties faced to withdraw money. Goa Government Employees Association (GGEA), in a written communication to Chief Minister Laxmikant Parsekar, said, “to make the withdrawal of[Read More…]
Noteworthy or not-worthy? A design critique of the new Rs. 2,000 note
India has a brand new currency note – a ₹2,000 note – the highest denomination in circulation currently. The new currency note was introduced in the backdrop of a massive disruption of India’s Financial System – with the demonetisation of existing ₹ 500 and ₹ 1,000 currency notes, which formed[Read More…]
‘3 lakh cr old notes deposited post demonetisation, ATM withdrawal limit increased’
Around ₹ 3 lakh crore of old ₹ 500 and ₹ 1000 notes were deposited in banks post demonetisation while ₹ 50,000 crore has been dispensed to public, Finance Ministry said. The banking system has handled about 18 crore transactions during the period, it said on Sunday, adding that issuance[Read More…]
Banks closed on Guru Nanak Jayanthi; queues get longer at ATMs
Cash-strapped people started making beeline outside ATMs from early morning on Monday but with limited success as most of cash vending machines are running dry and banks remained closed in many parts of the country due to Guru Nanak Jayanthi. Scuffle and heated exchanges were reported from ATMs and banks[Read More…]
Demonetisation: People loot ration stores, pelt stones on banks, collapse
In view of demonetization, the government has extended working hours of banks and claimed that inconvenience is temporary but the condition on the ground is worst as cash-strapped people looted ration stores, pelted stones on banks and some of them collapsed out of exhaustion and stress across the country. Following[Read More…]