Punjab National Bank (PNB) has in the last 10 days following the demonetisation announcement "recalibrated" nearly 2,000 automated teller machines (ATM) in its network, a top bank official said.
"It is a work in progress. In the coming days, more ATMs will get recalibrated," Usha Ananthasubramanian, Managing Director & CEO, said.
She also said cash availability is "easing" across the country and things would only turn better as PNB takes more efforts to improve the situation.
Recalibration of ATMs is expected to enable ATMs to dispense new Rs 2,000 notes.
As on date, PNB has nearly 9,000 machines across the country.
In the national capital region (NCR) region, PNB has recalibrated 229 out of 900 ATMs. The public sector bank has also identified 25 ATMs in the Capital that will "not be allowed to be dried up", she said.
Deposit rates
Till last evening, PNB saw an additional Rs 47,000 crore CASA (current account savings account) deposits flow into the bank.
Usha said the bank's Asset Liability Committee (ALCO) will meet later in the day to review the deposit rates. Indications are that PNB will cut deposit rates today.
Usha also did not see the current increased focus on currency management, ATM operations and currency exchange impacting the other operations of the bank.
"It's business as usual for other departments despite the increased focus on ATMs and currency management. In fact, our recoveries efforts are going in full steam," she noted.
In the last 10 days, PNB has processed 68.47 lakh currency exchange transactions involving Rs 2,514 crore, she added.