SUBSCRIBE(free)-Daily Updates (Click Verification Link Received in Your Email)

Dispensation of Rs.100 Denomination Banknotes Through Exclusive ATMs

RBI Notification: RBI/2016-17/106 
DCM (CC) No.1170/03.41.01/2016-17 dated 2nd November 2016


To, The Chairman & Managing Director /Chief Executive Officer, All Banks

1. Please refer to our circular DCM (CC) G-10/3352/03.41.01/2015-16 dated May 5, 2016 on the Currency Circulation and Exchange Scheme (CDES).

2. A review of steps taken by banks for installing ATMs dispensing lower denomination banknotes was conducted and found that very few banks had taken initiatives in setting up ATMs dispensing lower denomination notes including Rs. 100 denomination banknotes.

3. In keeping with the objectives of Clean Note Policy and to ensure that genuine requirement of members of public for Rs. 100 denomination banknotes are met, the banks should increase dispensation of Rs. 100 banknotes through ATMs which are widely used for distribution of banknotes for retail use.


4. With a view to encourage the banks in that direction, it has been decided to conduct a pilot project wherein 10% of the ATMs in the country will be calibrated to dispense Rs.100 banknotes exclusively. You are, therefore, advised to configure / calibrate 10% of your ATMs to facilitate this arrangement.

5. As the process involved in configuring the requisite number of machines is not complex, the banks are required to complete the exercise within 15 days from the date of the circular and report compliance. For this purpose, banks are free to select the branches with the sample covering relatively large number of centres / states. The data on location of such ATMs in the annexed format may also be advised to us. You may share your feedback on the pilot after a lapse of two months.



Annex
Dispensation of Rs.100 denomination banknotes through exclusive ATMs

Name of the bank –

Sr.No.
State
City / Town / District
Address of the ATM location









(To be sent by email)
Submit/See Comments With: or

No comments:

Post a Comment