In the current electronic banking system, the customers get notes only in the denominations of Rs 100, Rs 500 and Rs 1000 from the ATMs but within few weeks the machines will be configured to deliver lower denomination notes also.

The central bank issued the circular in this regards on August 12 and directed all the commercial and public sector banks to take essential steps and ensure the functioning of such ATMs.

The RBI has also announced to provide subsidies to the banks for installation of new ATMs. The central bank will give 50 percent and 75 percent subsidy for the machines in urban and rural areas respectively.

(JPN)

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