No plan to reintroduce Rs 1,000 note; 22,500 ATMs to be recaliberated today, says Arun Jaitley

Putting a rest to the speculations, Finance Minister Arun Jaitley on Thursday announced that there are no plans to introduce Rs 1000 note any time soon. 

The finance minister also said that 22,500 ATMs will be recaliberated by Thursday, enabling them to dispense Rs 2000, Rs 500 and Rs 100 notes. 

There are nearly 2 lakh ATMs as of now, he said. 

On the question of reduced over-the-counter cash exchange limit, he said the amount was lowered from Rs 4500 to Rs 2000 because the funds were being misused. 

He also mentioned that the new cash withdrawal limit of Rs 2.5 lakh for families with  wedding will be a big relief for common man. 

Furthermore, Jaitley clarified that private hospitals and disgnostic centres were not allowed to accept old notes becausethere is a danger opf such institutions to become unauthorised money changers. 

Also read | Govt eases cash withdrawal norms for farmers, traders, weddings; drops cash exchange to Rs 2000 from Rs 4500: Top highlights