ATMs Will Now Dispense Rs 20 and Rs 50 Notes

State Bank of India (SBI) chairperson Arundhati Bhattacharya said the bank will soon start dispensing Rs 50 and Rs 20 currency notes to help the public.

Bhattacharya added that ATMs are emptying out fast because it has a fixed space for notes of 100 and also the dimension of the new notes has changed, adding that the holding capacity in the ATM is confined.

She said that manual re-calibration takes ample amount of time as a person has to come and physically add the money when it runs out. She is hopeful that to sort this problem by the end of November. And Once the chaos subsides by then, then ATMs will start dispensing 50 and 20 rupee notes in coming days.

Cash withdrawal limit at ATMs was hiked to 2,500 rupees from 2,000 rupees a day. The weekly limit of 20,000 rupees for withdrawal from bank counters has been increased to 24,000 rupees.

The toll tax will not be collected till the midnight of 18th November to ensure smooth traffic movement across all national highways.

After a review by the Finance Ministry, the limit of old 500 and 1000 rupee notes that can be exchanged for freshly minted 2000 rupees and new 500 rupee notes was increased from 4000 rupees to 4500 rupees per day.

The Finance Ministry has also extended the last date for submission of the annual life certificate for pensioners from November to 15th January next year.