Reconfiguration of ATMs for new notes unlikely in 2 days
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The State Bank of India operates around 55,000 ATMs in the country. The Managing Director of the lender, Rajnish Kumar, says it will be difficult for all its ATMs to be reconfigured in the two days time to dispense the new Rs 500 and Rs 2000 notes. This is due to logistics, he says. Giving more clarity on the ban of Rs 500 and Rs 1000 notes, he says if the account is KYC compliant, then there is no limitation to depositing money in your account.
He adds that if an individual is depositing a sum in crore but has an income statement in lakh, then the Income Tax department will come into the picture.
The State Bank of India operates around 55,000 ATMs in the country. The Managing Director of the lender, Rajnish Kumar, says it will be difficult for all its ATMs to be reconfigured in the two days time to dispense the new Rs 500 and Rs 2000 notes. This is due to logistics, he says. Giving more clarity on the ban of Rs 500 and Rs 1000 notes, he says if the account is KYC compliant, then there is no limitation to depositing money in your account. 
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