50% of ATMs in India will be able to dispense new Rs 500, Rs 2000 notes in a week

Half of India's 200,000 ATMs will be recalibrated within the next seven days, so that they can dispense the new series of Rs 500 and Rs 2,000 denomination notes, government officials said on Wednesday.

Most ATMs are currently dispensing only 100-rupee notes as they have to be recalibrated centrally as well as individually. The government has set up a taskforce under Reserve Bank of India deputy-governor SS Mundra to speed up the resetting of ATMs.

“The government is now focusing on making cash available on offsite ATMs as well," said an official.

A second official confirmed the development and also said that printing of the new Rs 500 rupee notes has also been stepped up.

Finance Minister Arun Jaitley had said last week that it may take up to three weeks for all 200,000 ATMs in the country to be recalibrated.