State Bank of India (SBI) chief Arundhati Bhattacharya today assured that the panic among masses is on the decline following the more constant flow of cash at banks and ATMs.
She also stated that the bank will also start dispensing 50 and 20 Rupee notes in coming days to help the public.
The SBI Chief stated that in all of their branches in the southern states, the workload has dropped to almost 50 per cent, which is a sure sign that people are assured that they will receive the money at their own convenience.
However, talking about the inconvenience caused to the masses with ATMs running out of cash soon, Bhattacharya added that ATMs are emptying out fast because it has a fixed space for notes of 100 and also the dimension of the new notes has changed, adding that the holding capacity in the ATM is confined.
"But what takes most time is manual recalibration. A person has to come and physically add the money when it runs out. We hope and are trying that we can sort of this problem by end of November. And if the chaos subsides by then, then we will also start dispensing 50 and 20 rupee notes in coming days," she said.
Meanwhile, the government has set up a special task force headed by Deputy Governor of RBI to expedite the process of re-calibrating the ATMs to make them fully functional, which will work with different banks in this direction.