Bank customers, ATMs will soon stop dispensing Rs 2,000 notes. Banks to recalibrate ATMs to replace Rs 2,000 notes with Rs 500 notes.
Nearly 240,000 ATMs are expected to be recalibrated in the coming months. This would mean an exchange of Rs 2,000 cassette with Rs 500 ones. After recalibration, 3 of the 4 ATM’s cassettes will be filled with Rs 500 notes.
The fourth cassette will be filled with lower denomination notes (Rs 100 or Rs 200). RBI had introduced Rs 2,000 note after demonetisation in 2016.