RBI to increase the supply of newly introduced Rs 200 notes. The Central Bank issued Rs.200 notes with a view to deal with the difficulty of low availability of lower denomination notes in circulation. RBI stated, The production of Rs 200 notes is being augmented up by currency printing presses, and over time as more notes are printed, it will be distributed throughout the country through the banking channels and will be available to the public in adequate quantity. At present, Rs 200 notes are only available at RBI offices and banks. However, RBI still has not made it clear when will these notes will be distribute to a number of people from ATMs. R Gandhi, a former deputy governor of RBI in charge of currency management, told DNA Money, It is very important to have several currency denominations in onecountry and the Rs 200 was a missing link in the lower denomination.
The new notes will help speed up transactions, especially for the average man. You can, however, take a time before it is available at ATMs as the dimensions are different. However, banks can recalibrate it in the normal course of business and make it available in the branches and then gradually at ATMs. The length of the Rs.200 is different from the existing notes dispensed from ATMs (100, 500, 2000), the cassette calibration is required to be made.
ATM manufacturers need to do a complete test of the new currency denomination Rs 200 and provide the parameters that must be set up at the ATM by an engineer. At ATM switch level, we will require to make the switch configuration and complete testing of the new currency 200 before the execution. The largest ATM operator in India, said that have to test the currency and see how the new configuration works at the ATM. But it will be a much smaller exercise. ATMs will be fully operational even during recalibration. But we still do not have the physical currency in our hands. But it will improve the ease of transactions.