It’ll be a longer wait for those who are looking for smaller denominations rupee notes at ATMs. Despite the Reserve Bank of India (RBI) releasing the new Rs 200 notes on August 25, they are not available at the ATMs just yet.
The notes were introduced in a bid to increase the circulation of smaller denominations and bridge the gap between high value notes and smaller denomination notes. On August 18, the RBI had launched new Rs 50 notes as well. However, the Rs 200 notes are only available in select RBI counters and banks.
Also, the size of the cash-holding cassettes inside the automated teller machines (ATM) need to be calibrated to enable dispensation of the new notes. At present, the ATMs are configured to dispense Rs 100, Rs 500 and Rs 2000 notes only. This could take a week or more.
The Rs 200 denomination bank note is bright yellow in colour with the motif of the Sanchi Stupa on the reverse. The notes bear the signature of RBI Governor Urjit R. Patel.
The Rs 50 currency notes are fluorescent blue in colour with the motif of Hampi with chariot on the reverse. Dimension of the bank note are 66 mm x 135 mm.
On August 25, the Reserve Bank of India said it would gradually increase the supply of Rs 200 notes. "The production of these notes is being ramped up by the currency printing presses and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity," the central bank said.