Cash-Deposit Machines at ATMs Out of Order

Hyderabad: City residents who looked to take the easy way out by depositing the soon-to-be-banned Rs 2,000 note in cash-deposit machines at ATM kiosks were in for a disappointment as many banks have disabled their CDMs due to the government order.

Many citizens started queueing up at banks right from Saturday morning, as they were unaware that the exchange or deposit of Rs 2,000 notes starts on May 23, with a deadline of September 30.

However, many said the memories of the November 2016 note ban and the subsequent frenzy still rankled in their memories and they wanted to avoid the rush by getting their notes exchanged early.

A senior banker said that banks have not been issuing Rs 2,000 notes for the past few months.

J. Swathi, a relationship manager with a private bank at RTC Crossroads, said, “As of now, we don't see people rushing to the bank to deposit Rs 2,000 notes. We are going to accept the notes from May 23. But people can deposit them.”

A. Mahesh, a custodian of cash deposit machines, said: “There is no panic but people are depositing higher amounts in machines. Bank has, through central, disabled dispensing Rs 2,000 notes. Our CDMs are not working due to technical issue.”