Each one has to be calibrated individually to dispense the new sized notes of Rs 2,000 and Rs 500 besides the lower denomination currency of Rs 100, he said. Before the press conference, Jaitley held a meeting with Finance Ministry officials and the RBI. “The RBI and banks are in readiness… The situation now is peaceful, there are long queues but very orderly queues,” he said. It exchanged notes of 58 lakh customers, while 22 lakh customers used ATMs and 33 lakh withdrew cash. Out of 2 lakh ATMs, about 1.2 lakh were operational, a Finance Ministry statement said, adding that only Rs 100 notes were being disbursed from the ATMs.

Source: Indian Express November 12, 2016 23:26 UTC