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Rs 200, Rs 50 notes are out! You may not get it at ATMs, here’s why

Rs 200, Rs 50 notes are out! You may not get it at ATMs, here’s why
The new Rs 50 and Rs 200 notes. Photo: RBI website

Mumbai: All those who have been hoping to visit the ATM to get their hands on the newly rolled out Rs 200 and Rs 50 notes, might be disappointed.

The central bank on Thursday announced the launch of the Rs 200 notes in a bid to address the ‘missing link’ between low and high denomination currencies. “Provision of the new denomination, therefore, would facilitate exchange, particularly for the common man who deals with denominations at the lower end,” the RBI said in a statement.

The RBI had on August 18 announced that it will launch new fluorescent blue Rs 50 banknotes bearing the motif of ‘Hampi with Chariot’ that depicts India’s cultural heritage.

However, the new Rs 200 and Rs 50 notes may only be available at select RBI offices and banks. Moreover, since Friday is a holiday on the occasion of Ganesh Chaturthi, most banks may remain closed and the Rs 200 notes may have not reached the ATMs.

Moreover, since the dimension of the new Rs 200 note – 66 mm × 146 mm is different from existing notes, the cassettes at ATMs, that dispense cash, will have to be calibrated to fit the notes.