Government in fire-fighting mode to bolster ATM network, dispense cash in rural pockets: Shaktikanta Das

New Delhi: The Economic Affairs Secretary Shaktikanta Das, in a press briefing on Monday, listed out the list of emergency measures that government has taken on a fire-fighting mode to disburse cash to common public in every nook and corner of the country.
The Secretary said that the government has increased the focus on dispensing of cash in rural areas, as well as to bolster the ATM network across the country.
The government is targeting at increasing availability of cash in rural pockets through its network of Banking Correspondents and Post Offices.
He said that bank will increase the cash holding limit of Banking Correspondents to Rs 50,000, which may be increased in appropriate cases. Each banking correspondent can replenish cash multiple times in 1 week, against the previous limit of once in 12 days. He said that government plans to leverage the vast network of 1.2 lakh Banking Correspondents and 1.35 lakh Post Offices across the country.
Regarding strengthening of the ATM network, Das said that RBI has formed a Task Force that will look into he expediting of recalibration of ATMs. With recalibration of ATMs, he expressed reassurance that more of new Rs 2000 will be available in ATMs from Tuesday or Wednesday.
More micro ATMs will be set up to dispense cash on debit cards. He clarified that common public will be able to withdraw the increased limit of Rs 2500 per day  from the earler Rs 2000 per day,  only from ATMs which have been recalibrated.
Das added that National Payments Corporation of India has been asked to reduce the transaction charges, even banks will wave transaction charges on credit cards for the time being.