Well-placed sources in the ATM manufacturing business have quelled these doubts, saying the transition will be a seamless process.
If the RBI comes up with a new note which is smaller in size, or bigger than the existing ones, then the currency cassettes need to be customised to fit the notes according to the new sizes. Cassettes are the containers in which notes are kept inside the ATM.
According to Navroze Dastur, MD, NCR Corporation, a global company, which is into the manufacturing of ATMs and has a large manufacturing plant in Chengalpattu, “A small amount of modification needs to be done to the currency cassettes to handle the Rs 2,000 notes. During the manufacturing process of the ATM itself, we prepare for such unseen developments, based on the country in which we operate, and where the cassettes will be deployed. They are made on basis of the currency in circulation. If any changes come in, like a note being increased in length, or dimensions, then the existing cassettes may not be able to handle them. Some minor modifications would be needed. At the time of cash loading, or at the time of making routine changes to the currency cassette configuration, these changes can be made.”
He adds, “There will be an element of cost to such changes, but it’s not going to be worrisome for bankers. Now, that we have the dimensions of the new currency, before the product gets shipped, those configurations can be made on the cassettes at the factory level itself. The ATMs that have already been manufactured were made keeping the prevalent currency in mind.”
As the existing denominations have been done away with, it will require field visits for each of the ATMs for making the changes. ATM makers have been instructed by RBI to help the banks to get their ATM networks up and running soon, and support them in ensuring the ATMs start dispensing cash from Friday.