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Constitution of Task Force for enabling dispensation of Mahatma Gandhi (New) Series Banknotes - Recalibration and reactivation of ATMs- (Reserve Bank of India) (14 Nov 2016)

MANU/RPRL/0284/2016

Banking

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.

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.

3. Re-calibration of ATMs involves multiple agencies - 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.

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:

i.Representatives from Government of India, Ministry of Finance, Department of Economic Affairs, Member

ii.Representatives from Government of India, Ministry of Finance, Department of Financial Services, Member

iii.Representatives from Government of India, Ministry of Home Affairs, Member

iv.Representatives from four banks with largest ATM network, viz., State Bank of India, Axis Bank, ICICI Bank and HDFC Bank, Member/s

v.Representative from NPCI, Member

vi.Chief General Manager, Department of Currency Management, Member

vii.Chief General Manager, Department of Payment and Settlement System, as Member Secretary

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's deliberations. The Task Force may also invite others as may be needed.

6. The Terms of Reference of the Task Force would be as under:

i.Expeditious reactivation of all ATMs in a planned manner.

ii.Any other matter germane to the above.

7. DPSS, CO will provide the secretarial support.

Tags : TASK FORCE   CONSTITUTION   BANK NOTES  

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