{"id":85541,"date":"2016-11-15T09:02:24","date_gmt":"2016-11-15T03:32:24","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=85541"},"modified":"2016-11-24T22:32:16","modified_gmt":"2016-11-24T17:02:16","slug":"constitution-of-task-force-for-enabling-dispensation-of-mahatma-gandhi-new-series-banknotes-recalibration-reactivation-of-atms","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/15\/constitution-of-task-force-for-enabling-dispensation-of-mahatma-gandhi-new-series-banknotes-recalibration-reactivation-of-atms\/","title":{"rendered":"Constitution of Task Force for enabling dispensation of Mahatma Gandhi (New) Series Banknotes &#8211; Recalibration &#038; reactivation of ATMs"},"content":{"rendered":"<p style=\"text-align: justify;\">It has become necessary to re-calibrate all ATMs\/ Cash handling machines to dispense the new design notes following introduction of Mahatma Gandhi (New) Series Banknotes including a new High Denomination (Rs 2000) in new designs.<\/p>\n<p style=\"text-align: justify;\">2. ATMs play a vital role in meeting the currency requirements of the public and have become a major channel for disbursement of cash. Re-activation of ATMs extends the availability and disbursal of notes for the customers of banks at convenient time and location in judicious mix of higher and lower denominations.<\/p>\n<p style=\"text-align: justify;\">3. Re-calibration of ATMs involves multiple agencies \u2013 banks, ATM manufacturers, National Payment Corporation of India (NPCI), Switch Operators, etc., and multiple activities making it a complex operation requiring immense coordination among these agencies.<\/p>\n<p style=\"text-align: justify;\">4. With a view to providing direction and guidance in this regard, it has been decided to set up a Task Force under the Chairmanship of Shri S. S. Mundra, Deputy Governor, Reserve Bank of India. The Task Force will comprise:<\/p>\n<p style=\"padding-left: 30px; text-align: justify;\">i. Representatives from Government of India, Ministry of Finance, Department of Economic Affairs, Member<br \/>\nii. Representatives from Government of India, Ministry of Finance, Department of Financial Services, Member<br \/>\niii. Representatives from Government of India, Ministry of Home Affairs, Member<br \/>\niv. Representatives from four banks with largest ATM network, viz., State Bank of India, Axis Bank, ICICI Bank and HDFC Bank, Member\/s<br \/>\nv. Representative from NPCI, Member<br \/>\nvi. Chief General Manager, Department of Currency Management, Member<br \/>\nvii. Chief General Manager, Department of Payment and Settlement System, as Member Secretary<\/p>\n<p style=\"text-align: justify;\">5. A representative each of ATM office equipment manufacturers (OEMs), Managed Service Providers, cash in transit (CIT) companies and white label ATM (WLA) operators will be invited to the Task Force\u2019s deliberations. The Task Force may also invite others as may be needed.<\/p>\n<p style=\"text-align: justify;\">6. The Terms of Reference of the Task Force would be as under:<\/p>\n<p style=\"padding-left: 30px; text-align: justify;\">i. Expeditious reactivation of all ATMs in a planned manner.<br \/>\nii. Any other matter germane to the above.<\/p>\n<p style=\"text-align: justify;\">7. DPSS, CO will provide the secretarial support.<\/p>\n<p style=\"text-align: right;\">Reserve Bank of India<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>It has become necessary to re-calibrate all ATMs\/ Cash handling machines to dispense the new design notes following introduction of Mahatma Gandhi <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-85541","post","type-post","status-publish","format-standard","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Constitution of Task Force for enabling dispensation of Mahatma Gandhi (New) Series Banknotes - Recalibration &amp; 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Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85741,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/15\/usage-of-atms-waiver-of-customer-charges\/","url_meta":{"origin":85541,"position":1},"title":"Usage of ATMs \u2013 Waiver of customer charges","author":"Saba","date":"November 15, 2016","format":false,"excerpt":"A reference is invited to the\u00a0circular DPSS.CO.PD.No.316\/02.10.002\/2014-2015 dated August 14, 2014\u00a0on rationalisation of number of mandatory free ATM transactions for savings bank account customers for transactions done at their own bank ATMs as well as at ATMs of other banks. A reference is also drawn to\u00a0Circular No.DCM (Plg) No.1226\/10.27.00\/2016-17 dated\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84291,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/09\/government-notification-of-demonitisation-of-rs-500-and-rs-1000-notes\/","url_meta":{"origin":85541,"position":2},"title":"Government Notification of demonitisation of Rs 500 and Rs 1000 notes","author":"Saba","date":"November 9, 2016","format":false,"excerpt":"S.O. 3407(E).-\u00a0Whereas, the Central Board of Directors of the Reserve Bank of India (hereinafter referred to as the Board) has recommended that bank notes of denominations of the existing series of the value of five hundred rupees and one thousand rupees (hereinafter referred to as specified bank notes) shall be\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96291,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/31\/daily-limit-of-cash-withdrawal-from-atms-enhanced-to-rs-4500-per-day-per-card\/","url_meta":{"origin":85541,"position":3},"title":"Daily limit of cash withdrawal from ATMs enhanced to Rs 4500 per day per card","author":"Saba","date":"December 31, 2016","format":false,"excerpt":"Cash withdrawal from ATMs \u2013 Enhancement of daily limits Please refer to our circular DCM (Plg) No. 1424\/10.27.00\/2016-17 dated November 25, 2016 on \u201cWithdrawal of cash from bank deposit account - Relaxation\u201d.\u00a0On a review of the position, the daily limit of withdrawal from ATMs has been increased (within the overall\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99861,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/01\/17\/withdrawal-limits-from-atms-and-current-accounts-enhanced\/","url_meta":{"origin":85541,"position":4},"title":"Withdrawal limits from ATMs and Current Accounts enhanced","author":"Saba","date":"January 17, 2017","format":false,"excerpt":"Enhancement of withdrawal limits from ATMs and Current Accounts Please refer to our circulars DCM (Plg) No. 1274, 1317, 1437 and 2142\/10.27.00\/2016-17 dated November 14, 21 and 28 and December 30, 2016, respectively, on the above subject. 2. On a review of limits placed on withdrawals from ATMs and current\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85391,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/14\/finance-ministry-reviews-position-of-availability-and-distribution-of-all-denomination-of-bank-notes\/","url_meta":{"origin":85541,"position":5},"title":"Finance Ministry reviews position of availability and distribution of all denomination of bank notes","author":"Saba","date":"November 14, 2016","format":false,"excerpt":"Finance Ministry reviews the position regarding availability and distribution of all denomination of bank notes in different parts and regions of the country; Issuance of the new series of Rs. 500\/- notes commenced; Instructions issued to the Banks and Post Offices to ensure proper distribution of all denomination notes including\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=85541"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85541\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=85541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=85541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=85541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}