Will not get a new note of 100 rupees now, it will take 1 year, will you know why?
The Reserve Bank of India (RBI) has issued the first photograph of a new note of Rs 100, but this note will take about 1 year to come in the market. Indeed, to make ATM worth 100 rupees, companies will have to recalibrate 2.4 lakh machines of the country. The size of the new note different from the existing 100 rupees note and for this, the ATM recalibrated. According to the ATM Operation Industry, due to the new notes, it will cost Rs. 100 crores. This is the reason that it will take time to arrive in the note market.
Screwed ATM trapped
Let me tell you that a recent 200 rupee note was issued and for this too, the ATM had to be recollected. Industry analysts say that for the 200 rupees note, the work of reclaiming all the ATMs has not been completed so that the new note has come. The Reserve Bank has announced to bring a new note of Rs 100, but you can take up to one year to get this note at all ATMs.
ATM reclaimed from the size of the new note
According to V Balasubramanian, Director of ATM Services, FSS, CATMI and President V. Balasubramanian, due to the change in the size of any note, the ATM has to recalibrate according to the size of that note. The question now is: how do we recapture ATMs according to both new and old notes. In this case, the old note continue in the ATM and the new note payment through ATM channel and its availability ensure that it recalibrated or not.
Will look a year
According to the bank officials, its take 12 months to recalibrate 2.4 lakh ATMs according to the new note of Rs 100 and at least Rs 100 crore spent. Now, according to the new note of 200 rupees, the process of recreating all the ATMs not completed. After this, they will have to recolibrate according to a new note of Rs 100. It will take longer.
100 rupees new note size
The new note is smaller than the old 100’s note in size and will be slightly larger than 10 notes. Its size is 66 mm × 142 mm. The Reserve Bank has said that the notes of old Rs 100 will also be legal tenders. When the notes issued in a new design, its distribution gradually increases its printing and distribution to the general public.