Dispensing of Rs 500 notes more than Rs 2,000 have started by the bank, a gradual move seen phasing out of high denomination currency note. Last Year, Reserve Bank of India (RBI) said on RTI response that the central bank has been no dictate from Finance Ministry, the bank has decided their own to fill their ATMs with smaller denomination notes for the convenience of the customer, sources said. Also, some bank has already recalibration of their ATMs and other banks will also follow the suit. Indian bank has announced that it has decided to stop using Rs 2,000 notes in their ATMs. When the question asked if Finance Ministry has asked banks not push Rs 2,000 notes through ATMs, she said the ministry has not issued any instruction regarding this issue to banks.
“As far as I know, no such instruction has been given,” the finance minister said on the sidelines of an event here. Getting change for a Rs 2,000 note has become an issue and due to that some banks have stopped using Rs 2,000 notes in their ATMs, sources said. Moreover, 2017-18 the reduction in printing notes and only 111.507 million notes were produced which reduced to 46.690 million notes only in 2018-19.
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