‘Counting machines need recalibration for new notes’

Gagandeep Singh

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Tribune News Service

Jalandhar, November 28

Since the time the demonetisation process started, a factor that has delayed the process of money dispensing to customers is that note-counting machines are not responding to the new currency.

Prior to this, the ATM machines were being made compatible with new currency notes, including that of Rs 2,000.

Speaking on the issue Amrit Lal, secretary, Punjab Bank Employees Federation, said, “We have around 1.30 lakh bank branches in India and about 2.50 lakh ATMs in different parts of the country. As the size of Rs 2,000 and new 500 note was not in consonance with old machines, around two lakh ATMs machines were to be calibrated.”

“Now, the note-counting machines, numbering around one lakh, have same facts and are not responding to the new notes. So to upgrade these machines as per the requirement of the new notes of Rs 2,000 and Rs 500 denomination will again affect the exchequer to the extent of crores of rupees. We feel the government officials did not take cognisance of these facts. Moreover, huge funds will be spent to recalibrate the ATMs as well as to make note-counting machines adjustable to new currency notes,” he added.

He said it seemed the decision of demonetisation had been taken without foreseeing the serious implications and repercussions that had caused enormous discomfort to people of the country and a huge loss to the government exchequer.