SBI is going to make sure there is adequate number of Rs 100 notes in ATMs

The State Bank of India (SBI) is working on making Rs 100 currency notes available in its ATMs and branches within two days.

The bank said it will make sure adequate number of Rs 100 notes are there so that people face less inconvenience.

"We have adequate number of Rs 100 notes with us. We are working on the logistics to make them available across all our ATMs and branches and we will make them available in the next two days," said SBI managing director Rajneesh Kumar.

SBI has over 3,000 PoS machines, where customers can withdraw up to a certain amount, he added.

In a biggest-ever move to curb black money, Prime Minister Narendra Modi last night had announced that Rs 500 and Rs 1,000 banknotes would become illegal tenders from last midnight and massively curbed cash withdrawals through ATMs and from bank counters.

All banks and ATMs will be shut today.

The Rs 500 and Rs 1000 notes account for over 86 per cent of the total Rs 16.42 lakh crore value of bank notes in circulation as of March 31, 2016, according to Reserve Bank's latest annual report.