Friday, June 18, 2021

ATM woes

After three months of demonetisation of high value notes, the operation in the ATMs across the country continues to suffer because of various bottlenecks. Initially high value notes were not available resulting in closure of ATMs. Again, when high value notes are available, the chances of getting fake notes is increasing due to the availability of fake notes in the market.  The compatibility of ATMs to load new high value notes in Rs.2000 denomination suffers as the cash disposing machines are not redesigned to cover ground of the new requirement.  Having a draw back in dispensing of cash, most of the ATMs are prone to fraud. They lack basic security features to catch up resulting in wrong disbursement of notes or accepting the fake notes in the cash bins of the ATMs in the country. How long people will wait and watch after standing in long queues? It is time to have a proper system check in the cash vending machines before the situation goes out of control.

Jayanthi S. Maniam

(The views expressed by the author in the article are his/her own.)

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