Govt All Set To Install Micro-ATMs Across The Country For Quick Cash; More Rs 2000 Notes Coming In 48 Hours!


ATM Withdrawal-001

Lack of cash due to currency ban is hitting the common man hard; we can already see long queues outside bank branches, fighting breaking out among cash-strapped citizens, who are waiting for hours to get Rs 100 notes for their day to day expenses.

But such currency woes would be soon over, as Govt. announced several measures to counter this cash crunch.

And one of them is a Micro-ATMs, which can solve all problems in a single go.

Micro-ATMs to Dispense Cash Across The Country

Economic Affairs Secretary Shaktikanta Das informed the nation that Govt. will soon install massive number of micro-ATMs all across the country, which will provide immediate respite to the on-going currency crunch.

These micro-ATMs would work like kiosks, (normally found inside shopping malls), which would be mobile, and would be constantly uploaded with cash to provide uninterrupted services.

Besides, Govt. has asked all banks to immediately waive any transaction fees applied for using other bank’s ATM. Hence, there would no extra fees for using any bank’s ATM post-November 8th.

Measures To Provide Assistance For The Common Man

Besides the announcement of micro-ATMs and removal of any transaction fees for using other bank’s ATMs, Govt. also announced several new measures to help the common man with dealing the currency crunch.

Some of them are:

  • Rs 2000 currency notes would be now available in all ATMs in the next 48 hours. Rs 500 notes have already been started dispensing from the ATMs
  • Deadline for paying utility bills such as water, electricity etc using old notes have been extended till November 24th. The same with paying for entrance at heritage sites (for helping tourists), fuel purchase, LPG cylinders, and railway catering.
  • You can directly complain to the District Magistrate if hospitals or any of the above entities refuse to accept Rs 500, 1000 old notes.
  • Daily limit of cash withdrawal extended to Rs 2500 from ATMs, and exchange limit increased to Rs 4500. Daily cap has been scrapped and weekly limit increased to Rs 50,000 per week
  • Toll-plaza and entry fees for National Highways was already removed.
  • Banks have been ordered to provide special facilities for senior citizens, and to ensure that queues are formed in the orderly way.
  • Strict action to be taken against any doctor or hospital which refuses to accept Rs 500, 1000 notes, and in case any death happens due to such irrational step, then Govt. will take legal action as well.

Meanwhile, FM Arun Jaitley informed the nation that more than 10 crore transactions have taken place since the announcement of #currencyban, out of which SBI accounted for 25%. As per current figures, more than Rs 3 lakh crore has been deposited in various banks till now.

We will keep you updated as more details come in.

1 Comment
  1. PatientWealth says

    How do the taxes work in India? I don’t understand how people who have a great deal of these notes but DID pay taxes would be able to prove it? In the United States we only pay tax on our income and the income is reported to the government.

Leave A Reply

Your email address will not be published.

who's online