Published On : Fri, Sep 25th, 2015

Happy tide! ATM to deliver Rs 50 currency

ATM 50
Mumbai/ Nagpur:
In a happy tide for commons, now the ATM will deliver Rs 50 notes. It is a big relief to those who want to draw the money of less denominations as per need from the ATM of various banks.

According to media reports, now the citizens will get the currency notes of Rs 500, Rs 100 and Rs 50 from the ATM. Such a development hints that the time may come when the ATM may provide coins of various denominations in the near future. Uptil now, the customers faced inconvenience when the ATM provided the notes of Rs 1000 or Rs 500, and more money was drawn even though not needed. Perhaps, considering such problem, the RBI has issued instructions to all banks to load in their respective ATM the notes of Rs 500 with Rs 100 and Rs 50 denominations.

In a happy news for all, some banks have already started loading Rs 50 notes in their ATMs. The SBI ATM in Raipur (Chhattisgarh) is said to be delivering Rs 50 notes. This facility will be available with other banks also, said a banking source.

It may be mentioned that in the month of August 2013, informed the banking sources, that the RBI had directed all banks to load the notes of Rs 50, Rs 20 and Rs 10 along with the notes of Rs 500 and Rs 100 denominations, but the banks could do so. The greatest advantage of this change is that the customers will draw only the required money, just to control their budgetary provisions.