In the wake of a severe cash crunch following the demonetization of Rs.500 and Rs.1,000 notes, of 202,000 ATMs across the country, nearly 1.85 lakh ATMs have been recalibrated to dispense new Rs.500 and Rs.2,000 currency notes.

NCR Corporation India, the country’s largest operator of cash dispensers, has been assigned the job to reprogram the ATMs and the entire recalibration process will be completed within a couple of days.

However, at least 70 percent of ATMs across India displayed ‘No Cash’ boards yesterday due to December 1 being the pay day and most of the currency is going to branches rather than ATMs to solicit the branch customers.

Meanwhile, large queues of people standing in front of ATMs and banks continue to increase as the cash crunch does not seem to subside any time sooner due to RBI’s lethargic efforts in refilling the banks and ATMs with new currency notes. Financial experts opine that the situation will get even worse in the coming days.