Even after 85% of ATMs being calibrated, this is the reason why you need to wait for hours at queues

If the Reserve Bank of India is to be believed, old notes of Rs 11.5 lakh crore have been deposited with banks. It also confirmed that Rs 3.8 lakh crore have been printed. This infers that there is still a deficit of Rs 7.7 lakh crore in circulation. According to former finance P Chidambaram, it would take minimum five months to print adequate new notes to get back to normalcy.

Though 85% of ATM machines have been calibrated to dispense new denominations, the dearth in cash is t be blamed for the crisis that is yet not over. Most ATMs are dispensing Rs 2000 notes but are running dry of cash within few hours. Branches on the other hand continue to dispense Rs 2000 notes at their counters which are not wide accepted due non availability of small denomination notes like Rs 500 and Rs 100.

(Image: India times)