Taking stock of the situation arising after the demonetisation operation announced by the government on Tuesday, Finance Minister assured public that common man's money is safe in banking system, and recalibration of ATMs in advance was not possible considering the secrecy of operation.
Finance Minister said that recalibration of ATMs will take about two to three weeks time. He said that around 2 lakh ATMs could not be recalibrated to the requirements of the new notes, due to secrecy of the mission. The old machines were recalibrated only for Rs 100, old Rs 500 and Rs 1000 notes.
"Recallibration takes about two weeks time. These machines are gradually being recalibrated, so it is going to take some more time", added Jaitley.
Your money is safe in the banking system. Anyone who uses online transactions and plastic money, the life will be smoother, added Jaitley
Government is keeping an eye on the movement on fake currency. It was expected that that as the pressure mount on black money hoarders, the black money movement will begin, said the Finance Minisater.
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