All You Need To Know About Hybrid ATMs Centre Plans To Introduce Amid UPI Digitisation Push
New Delhi: The Union Government is planning to introduce hybrid automated teller machines (ATM)s across the country, in a fresh efforts to modernise the systems amid the push for UPI digitalisations.
The new development is reported to be addressing the the shortage of small denomination notes and coins driven by the digitisation and UPI. The idea introduces new ATMs that can dispense Rs 10, Rs 20, and Rs 50 currency notes. It does not just produce Rs 100 and Rs 500 notes only as ATMs, as per the reports.
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The hybrid ATMs is also expected to be capable to exchanging large notes for small notes. It can exchange your Rs 500 note for smaller ones like Rs 10, 20, and 50 along with coins on demand.
As per reports, a prototype of low-denomination currency dispensing machines is currently being tested under a pilot project in Mumbai, the Mint reported citing sources. The system would be rolled out once get approved.
The new ATMs will be operationalised in key high foot traffic locations including transport hubs, markets, parks, hospitals, and government offices, among other busy places. The initiative would reportedly makes RBI to print more small denomination currency notes.
