Rs 100 crore needed to recalibrate ATMs: Catmi

The introduction, which comes even as the industry is just about finishing the recalibration to dispense the newly introduced Rs 200 denomination notes, may only aggravate the pain, they said.

“We need to recalibrate ATMs for the new Rs 100 note. 

In India, therefore around 2.4 lakh ATMs will need to be recalibrated,” said V Balasubramanian, President, FSS, who also serves as the director of Confederation of ATM Industry, Catmi. He added the co-existence of both the new and the older versions of Rs 100 notes is a challenge.

“The continuity of old notes, introduction of new notes through the ATM channel and their availability will determine whether to recalibrate or not,” he added.

Radha Rama Dorai, MD for ATM and allied services, FIS, said there is a likelihood of an imbalance between the supply of the new notes and the withdrawal of the old notes, especially in the hinterland.

“If the supply of the new currency is unable to fill the gap created by the withdrawal of the old currency, dispensation of Rs 100 currency notes through the ATMs will get affected till such time the imbalance exists,” she said.

Hitachi Payment Services’ MD Loney Antony said the exercise of recalibration of the new Rs 100 note could take over Rs 100 crore and 12 months of time to completely recalibrate 2.4 lakh ATMs in the country.  

“As the new Rs 200 note recalibration for all ATMs is still not completed, the recalibration of the new Rs 100 note could take longer, unless it is planned properly,” he added.