News Nation Logo

BREAKING

ATMs to dispense new 'hard-to-fake' currency notes from Friday: Govt

Finance Ministry Has Said That The ATMs Will Start Dispensing New Currency Notes From Friday.

PTI | Updated on: 09 Nov 2016, 12:03:57 PM
People line up outside an ATM in Ahmedabad to withdraw hundred rupee notes. (Getty Images)

New Delhi:

The new hard-to-fake Rs 500 and Rs 2,000 currency notes will be available at bank ATMs when they start operating again from Friday, finance secretary Ashok Lavasa said on Wednesday.

"There are going to be some difficulties which they (people) will face but for their convenience, a number of steps have been taken by the government, there are facilities to withdraw money from ATM and exchange currency at banks, withdraw money from accounts," Lavasa said on government withdrawing Rs 500 and Rs 1,000 notes from circulation to crack down on black money and counterfeit currency.

Watch live updates | Currency note ban: Rs 2000 note introduced to ease large transactions: Fin Secy

People, he said, do understand the objective behind the move. "And I'm sure they will cooperate in dealing with the difficulties and inconvenience that they might face. And eventually things will settle down."

"RBI will very strictly monitor it," he said. "For doing any transaction there are different ways, government's intention is to move towards cash less transaction."

Rs 500, Rs 1000 notes discontinued: Celebreties, sportsmen hail Modi govt's 'brave' currency overhaul

The ATMs will open on November 11 and at many places they will open on Thursday, he said adding new notes will be available at ATMs.

Asked about the slump in stock market indices, he said, the "The market would have reacted to several other developments. Let's wait and watch how things pan out."

"If there is anything required to be done by them I am sure they will take a look and take appropriate decision at the right time," he said on market regulator Sebi looking into the crash.

Check the detailed coverage in Hindi here

For all the Latest Business News, Economy News, Download News Nation Android and iOS Mobile Apps.

First Published : 09 Nov 2016, 11:48:00 AM

Videos