RBI Task Force to Aid Re-calibration of ATMs for Dispensation of New Currency Notes

Constitution of Task Force by RBI for enabling dispensation of Mahatma Gandhi (New) Series Currency Notes and Recalibration/ Reactivation of ATMs

It has become necessary to re-calibrate all ATMs/ Cash handling machines to dispense the new design notes following introduction of Mahatma Gandhi (New) Series Banknotes including a new High Denomination (₹ 2000) in new designs.

Re-calibration of ATMs involves multiple agencies – banks, ATM manufacturers, National Payment Corporation of India (NPCI), Switch Operators, etc., and multiple activities making it a complex operation requiring immense coordination among these agencies.

With a view to providing direction and guidance in the matter of Re-calibration of ATMs to dispense new design currency notes, RBI has been decided to set up a Task Force under the Chairmanship of Shri S. S. Mundra, Deputy Governor, RBI. The Task Force will comprise:

i) Representatives from Government of India, Ministry of Finance, Department of Economic Affairs, Member

ii) Representatives from Government of India, Ministry of Finance, Department of Financial Services, Member

iii) Representatives from Government of India, Ministry of Home Affairs, Member

iv) Representatives from four banks with largest ATM network, viz., State Bank of India, Axis Bank, ICICI Bank and HDFC Bank, Member/s

v) Representative from NPCI, Member

vi) Chief General Manager, Department of Currency Management, Member

vii) Chief General Manager, Department of Payment and Settlement System, as Member Secretary

A representative each of ATM office equipment manufacturers (OEMs), Managed Service Providers, cash in transit (CIT) companies and white label ATM (WLA) operators will be invited to the Task Force’s deliberations. The Task Force may also invite others as may be needed.

The Terms of Reference of the Task Force would be as under:

i) Expeditious reactivation of all ATMs in a planned manner.

ii) Any other matter germane to the above.

 RBI Press Release dt. 14 Nov. 2016

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