December 2016 Current Affairs

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Special Task Force led by SS Mundra formed to recalibrate ATMs

Special Task Force led by SS Mundra formed to recalibrate ATMs
15 November 2016 Current Affairs: The Reserve Bank of India (RBI) has formed Special Task Force to speed up the process of recalibration of automated teller machines (ATM) to dispense the new denomination notes. The Special Task Force will be headed by S.S Mundra, Deputy Governor, RBI. Representatives from the Union Finance and Home ministries, RBI, State Bank of India, ICICI Bank, HDFC Bank, Axis Bank and the National Payments Corporation of India (NPCI) will be its members. Besides, representative from each of ATM original equipment manufacturers (OEMs), cash in transit (CIT) companies and white label ATM (WLA) operators will be invited to the Task Force’s deliberation

Expeditious reactivation of all ATMs in a planned manner. Draw up an action plan and ensure its implementation for quick recalibration of the ATMs to enable them to dispense the new Rs. 500 and Rs. 2,000 notes.

After the Union Government had surprisely announced demonitization of old series Rs. 1,000 and Rs. 500 notes, there was issue of currency crunch across the nation. Following introduction of new series of Rs. 2,000 and Rs. 500 notes, it has become necessary to recalibrate all ATMs/cash handling machines to dispense the new design notes. However, the recalibration process will take up to 3 weeks for all the 2 lakh ATMs to operate normally.

 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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