The Reserve Bank of India (RBI) has issued a new directive. Those holding Rs. 100 and Rs. 200 notes should take note.
The Reserve Bank of India (RBI) has issued a new order mandating all banks to stock Rs. 100 and Rs. 200 notes in ATMs. Banks won't need special modifications as many ATMs already have this capability.
The RBI's new guideline aims to resolve the recent shortage of change, which has affected both consumers and businesses. Many have resorted to requesting UPI payments due to the lack of smaller denominations.
Rs 100 and Rs 200 notes will now be readily available at ATMs. The RBI mandates all banks and white-label ATM operators to dispense these denominations through at least one cassette.
This will be implemented gradually. 75% of ATMs must dispense these notes by September 30, 2025, and 90% by March 31, 2026.
Banks don't need to buy new machines; adjustments to existing ATMs are sufficient. The RBI also emphasizes preventing empty or neglected cassettes, a current issue in many ATMs.
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