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ATM cash crisis: Suddenly Cashless
Thu, Apr 19, 2018
There are reports of ATMs running of cash in some states including Delhi, Andhra Pradesh, Telangana, Karnataka, Bihar, Jharkhand, Madhya Pradesh, Maharashtra and Uttar Pradesh.
Cash crisis at ATMs: Deposits rise as govt battles currency crunch
Thu, Apr 19, 2018
While the government on Tuesday accepted the shortage of cash in the ATMs in certain states, it has not been able to ascertain the exact reason behind the sudden spike. Speculations such as hoarding of black money and linking it with Karnataka elections are doing rounds.
ATM currency crisis: What is to blame? Huge withdrawals in Telangana, Andhra, Karnataka
Wed, Apr 18, 2018
The total requirement of paper currency is 25,000 tonnes but that has not been met, sources said. The Centre has not attributed any particular reason for the cash dearth as ATMs dried up in many parts of the country and said it’s a temporary problem. “Overall there is more than adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ (in demand) in some areas is being tackled quickly,” Finance Minister Arun Jaitley said in a tweet.
You may soon be able to withdraw Rs 200 notes from ATMs
Thu, Jan 04, 2018
The RBI has directed banks to recalibrate ATMs to ensure that more number of Rs 200 denomination notes are dispensed to general public.
1-year of demonetisation: Did India see a cash-less economy?
Wed, Nov 08, 2017
November 08,2017, comes as a very special day for PM Narendra Modi and his government has it marks the one year anniversary of their biggest reform "Demonetisation" or commonly known as notebandi.
Are the new Rs 200 notes coming to ATMs near you?
Tue, Oct 17, 2017
The Rs 200 notes is introduced in lower end of denomination series as per RBI. So far, India has bank notes like Rs 1, 2, 5, 10, 20, 50, 100, 500 and 2000.
New Rs 100 notes are coming this April 2018?
Wed, Oct 04, 2017
Rs 100 may be soon distributed in India in two formats both banknotes and coin pattern. RBI so far has revamped four bank notes in a move to eliminate fake currency.
Banks to remain shut till August 15; Will ATMs run dry?
Fri, Aug 11, 2017
Banks will remain shut for four days which may cause temporary cash shortage at ATMs.
From the looks of it, Rs 200 note might not be circulated via ATMs
Wed, Jul 05, 2017
The new Rs 200 note has a bluish tinge and has similar form factors as the Rs 2000 note.
RBI says 83% currency remonetised but does it really matter?
Thu, Jun 08, 2017
The after-effects of demonetisation are still not over. RBI is yet to announce the total currency that found its way back to the banks between November 9 2016 and December 31, 2016. However, RBI said that currency to the tune of 82% of pre-demonetisation levels have been pumped in the economy.
State Bank of India's revised service charges effective from June 1; find out what they are
Thu, Jun 01, 2017
SBI introduces service charges right from cash withdrawal from ATMs to usage of solid or imperfect notes. State Bank Buddy customers to now Rs 25 on every cash withdrawal from ATMs.
WannaCry: Should you stay away from ATMs?
Mon, May 15, 2017
After the WannaCry ransomware infected the computers across the world, the Reserve Bank of India (RBI) has directed banks to operate their ATM networks only after machines receive a Windows update to protect the machines from the malware.
Is "liquidity" actually helping in reviving Indian markets?
Wed, Apr 19, 2017
The market often confuses liquidity with institutional activity (net purchase or sale), in our view, Prasad added.
Digital payments in India reverse trend, grow in March
Wed, Apr 19, 2017
Vivek Kaul, author of Easy Money trilogy said, "There is a seasonality factor as well. March is the last month of the financial year and digital payments seem to go up during the course of the month, as people pay their taxes (advance income tax and service tax) as well as settle business payments between them."
While currency in circulation improved, ATMs still run dry
Tue, Apr 11, 2017
The survey stated, RBI's move in lifting up withdrawal limit on March 13, 2017, could have attributed to the happenings.
ATMs, Credit, debit cards set to disappear: Niti Aayog CEO
Sat, Apr 01, 2017
He attributed this to Prime Ministers Narendra Modi and Justin Trudeau "connecting well" with each other.
Only 70% citizens feel charges on cash transaction are a bad decision: Survey
Tue, Mar 07, 2017
The survey said, “Consumers are of the opinion that instead of reducing the cost of digital transactions, private banks are trying to show the stick to the customer and forcing them to go digital. Consumers are very concerned with the cost of digital transactions and many of them have reported that merchants are still charging 2% additional for debit, credit or wallet transactions.”
Charge on cash deposit: Why blame the banks when RBI approved move
Mon, Mar 06, 2017
One of the reasons could be the rise in cash withdrawals since January 2017. RBI data show that people have already started withdrawing cash from their bank accounts in large numbers which has led to slowdown in digital transactions.
Majority of consumers willing to adopt mobile payments: Report
Sun, Feb 19, 2017
The survey asked 1,000 consumers about their attitudes towards using their mobile phones to make purchases. It found that 93% of respondents were interested in using electronic payments more often.
Debit card charges may decline further: Jaitley
Wed, Feb 08, 2017
"The RBI is deciding on this... it is work in progress. I am sure as volumes (of digital transactions) are increasing, the charges will come down," the Finance Minister Arun Jaitley told the Rajya Sabha during the Question Hour.