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Even in the era of digital payments, the need for cash remains, especially for small change. To address these issues, the government is preparing to install new hybrid ATMs, from which notes of 10, 20, and 50 rupees can be easily withdrawn. It is known that this pilot project is starting in Mumbai, and these ATMs will be opened in crowded places like markets, railway stations, and bus stands.
Currently, ATMs mainly dispense 100, 200, and 500 rupee notes, which causes difficulties for shopkeepers, auto drivers, daily wage workers, children, and senior citizens in obtaining change. Under a new technical initiative, hybrid ATMs are being developed, allowing users to select smaller denominations as needed. This plan will be implemented under the guidance of the Reserve Bank of India (RBI), and there is consideration to increase the printing of smaller notes to avoid cash shortages.
According to media reports, this pilot project will start from a large city like Mumbai, where the proportion of cash transactions is high. If successful, it will be expanded nationwide. Experts believe that this step by the government will also make the cash economy convenient in the strong campaign of Digital India. This ATM will facilitate small transactions and accelerate the economy.
According to RBI and banking sector officials, this scheme will ensure the availability of small notes and make cash management in ATMs more efficient. It will be a great relief for citizens, especially in places where digital payments are not possible.
In Mumbai, through a pilot project, 10, 20, and 50 notes will be available in hybrid ATMs.
Small notes will be made available to facilitate cash transactions along with digital payments.
Under the guidance of the RBI, note management and availability will be ensured.
If successful, there is a plan to expand this project nationwide, a relief for citizens.