SBI ATM machine in service. Credits: Anirudh Sanjeev (Flickr)


The State Bank of India(SBI) chief Arundhati Bhattacharya said Tuesday that its banks will start dispensing ₹20 and ₹50 notes soon. This will ease the burden on the consumers somewhat, according to her

Bhattacharya told ANI, an Indian news agency, that in the southern part of India the rush had eased off almost 50 percent in SBI branches. She further said that all ATMS were running out of cash as they were not calibrated to the dimensions of the news notes. Also, the ATMS have a fixed capacity to hold ₹100 notes, which run out fast. According to the chief, the ATMs are running out of cash as they have a fixed space for notes of 100.

Meanwhile, the Reserve Bank of India has waived off  charges on card withdrawals. These relaxations will continue till December 30.

The central bank said ,”It has been decided that banks shall waive levy of ATM charges for all transactions (inclusive of both financial and non-financial transactions) by savings bank customers done at their own banks ATMs as well as at other banks ATMs, irrespective of the number of transactions during the month.”

For the last few days there has been chaos in banks and ATMs due to currency demonetization. People have to stand in long queues to exchange notes or withdraw cash from ATMs, which run out of cash in no time. CMS, the world’s fourth largest ATM Cash Management company, has launched a web application, CMS ATM Finder, which will help the public find working ATMs around them.

The company said, “A working ATM is probably top-most on most people’s minds right now. Even as we are working round the clock to get as many ATMs as we can filled with cash, here’s another quick step from us to make life easier for all concerned we have created the CMS ATM Finder. It’s a ready reckoner of all the ATMs we manage that are dispensing cash. ”

The company also said that it manages close to 55,000 ATMs in the country. The list shows most recent status of ATMs and users can even alert the company if a particular ATM is down. Almost two lakh people have used this service till now.



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