Decoding the big ATM problem: India just doesn't have enough engineers for the job
Only once the ATMs are recalibrated and enough Rs 500 notes are printed, the chaos will be under control, say bankers. Ten days on, the banking sector is yet to recover from the government's demonetisation move. There are two main reasons for this. One, there is just not enough new notes being supplied by the Reserve Bank of India (RBI), even after running its printing presses over time. And the second, there are not enough technicians to recaliberate automated teller machines in the countries. Only once the ATMs are recalibrated and enough Rs 500 notes are printed, the chaos will be under control, say bankers. Even as top bankers are assuring public that the situation will normalise in a week, bankers behind the counters think otherwsie. The new 500 notes have not been released in rural areas. Most of the branches just 20-30 kilometers from metros have not seen the new 500 rupee note as the currency chests are currently available only in cities. Even in me...