Banks have recalibrated 82,000 out of a little over 2 lakh ATMs in the country, economic affairs secretary Shaktikanta Das.
“It will be only a matter of a few days (more) till all the ATMs are recalibrated,” Das said.
To ease cash supply to the agricultural sector, a total of Rs 21,000 cr of new currency has been sanctioned for district cooperative banks, he added.
Cooperative banks, which are alleged to be widely misused by black money holders, were so far required to have their cash exchanges done via commercial banks. This was supposed to ensure that no laundering of black money took place.
However, the move constrained disbursal of money to farmers ahead of the winter sowing season.
Das also said many banks, including all government-sector banks, have waived off all debit card charges imposed on merchants. So far, merchants had to pay around 2% of the transaction costs as transaction charges.