End of Rs.2,000 Notes?- ATMs Recalibrated to Fit More Rs.500 Notes
The Reserve Bank of India has given enough indication that it will keep a tab on the high-value currency in circulation. It has come to the light that the Banks are recalibrating ATMs to replace high-value Rs 2,000 notes with Rs 500 notes. The Reserve Bank of India (RBI) or other such authorities have not officially confirmed it so far as part of their strategy. It is learned that the Cassettes which generally hold Rs 2,000 notes in ATMs will be replaced with notes of Rs 500, Rs 100 or Rs 200 denominations.