• Home
  • 7th Pay Commission News
  • orop news
  • Dopt Orders
  • CGDA Orders
  • expected da

PAY NEWS

Latest Central Government Employees News - 7th Pay Commission News, Dearness Allowance, Pension News, DOPT Orders

You are here: Home / 7th Pay Commission News / Need recalibration (Software and Hardware changes) in all ATMs

Need recalibration (Software and Hardware changes) in all ATMs

Need recalibration (Software and Hardware changes) in all ATMs

Availability of cash with Bank branches and Post Offices

Ministry of Finance has reviewed and taken stock of the cash availability and issuance to members of public today. Reserve Bank of India (RBI), Indian Banks Association (IBA) and a few major banks participated in the review meeting.

A total of over 7 crore transactions have taken place from 9th November upto mid-day of 12th November (i.e. in the last two and a half days) for deposit, exchange of old notes and withdrawal from ATM and over the counter. Old notes of.Rs.500 and 1000 denominations amounting to about Rs. 2 lakh crores have been deposited to banks.

Out of 2 lakh ATMs, about 1.2 lakh are operational. Presently only Rs.100/- notes are being disbursed from the ATMs. Recalibration (requires both software and hardware changes) of ATMs is going on, which will be completed by end of this month/ early December. Other denominations will then be disbursed by ATMs.

There is sufficient cash available with RBI and Banks. They were advised step up the supply of cash to the public.

The availability of cash and issuance of cash to bank branches and Post Offices on a daily basis is being constantly monitored and necessary rebalancing being done for more efficient allocation of banknotes of requisite denominations between different areas. To cater to the requirement of rural areas, Banks were advised to supply notes of smaller denominations (Rs. 100 and less) as well as Rs. 10 coins.

Source: PIB News

Filed Under: 7th Pay Commission News November 15, 2016 By Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Featured Posts

7 cpc option calculator

7 cpc option calculator

7 cpc option calculator

Recent Entries

Calculate your DA from July 2020

May 10, 2020

Comprehensive Transfer Policy – FREE from 5 years service condition – NFIR

November 13, 2019

Minutes of the 31st SCOVA meeting held under the chairmanship of Hon’ble MOS(PP) on 05.09.2019

November 13, 2019

Free Preventive Health Checkup for Central Government Retired employees aged 75 years and above under CGHS Scheme

September 9, 2019

Steps Taken to Streamline And Strengthen Pension Sanctioning And Payment System

July 22, 2019

Various Measures To Bring Transparency In Administration

July 22, 2019

Enhanced Govt Contribution from 10% to 14% under NPS – PFRDA Circular

July 11, 2019

Increment for central government employees starts today, 7th CPC Increment

July 1, 2019

New Income Tax Rules; Defaulters Will Not Be Able To Get Away Just By Paying A Penalty

June 26, 2019

Are You Salaried Employee? Leave Encashment Is Taxable While In Service

June 26, 2019

Copyright © 2023 | Central Government Employees News | Paynews.in