Home Business Amid chaos after demonetization: Information which will help us out very importantly

Amid chaos after demonetization: Information which will help us out very importantly

5 min read

1- ATM Finder-  An online tool to fine ATM with money across india.

These days finding a working ATM with money is a challenging job for everyone. As an immediate solution to this problem, CMS Info Systems, one of the company’s managing ATM’s in india came out with a tool to find out working ATM near you with money.


You can find ATM in your city at:http://atmfinder.cms.com/atmfinder/ATMStatus.aspx

2- No ATM charges for transactions after crossing the limit for transaction.

RBI on Monday has stated that there will be no charges for all financial and non financial transaction by customers from ATM. This is applicable to ATM usages at all banks no matter in which bank you are having your account. This will be applicable till December 30th 2016.

3- Micro ATM’s

Government today has stated that Micro ATM’s will be installed across the country to ease the cash crunch caused by currency demonetization. This will particularly be helpful in remote areas for rural and urban both areas.


How Micro ATM will work and the services offered-

Micro ATM are generally meant to allow an individual to deposit or withdraw cash irrespective of the account one is holding in any bank. It varies from bank to bank in the access provided- from bio-metric identifications, use of debit and RuPay card or the mobile phone number.

 Basic Services offered by Micro ATM’s are-

(A)- Withdrawal

(B)- Deposit

(C)-Fund transfer

(D)- Balance Inquiry

Other than the basic services some other services are offered by different bank accordingly.

4- Revised limits

(a)Government has revised the withdrawal limit for daily from 2,000 to 2,500, weekly from 20,000 to 24,000.

(b) Exchange limit has been revised from 4,000 to 4,500.


5- ATM’s are re-calibrated to dispense notes of Rs 500 and Rs 2000 from Monday 14th November 2016.

RBI and the Government of India is trying with each coming day a solution to help out people. Uncertainty and rumors are the main factor which has disturbed and created chaos among people. We all know that everything takes time to settle down. And by the way  we are very good from our childhood in receiving anything new so why not this time also. Let’s cooperate with the government and we will together see a better and shining India ahead.

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