ATM recalibration not yet started in rural areas: SBI Chairman

Recalibration of ATMs has not yet commenced in rural areas, says Arundhati Bhattacharya, Chairman of State Bank of India. Cash is also not been able to reach ATMs in these far flung areas due to logistics issues.She says the use of indelible ink has helped manage the crowds in banks better and she sees some sense of normalcy returning by the end of next week. Bhattacharya says 10-15 percent of deposits in banks after discontinuation of the Rs 500 and Rs 1000 notes are savings that people otherwise preferred keeping at home. These, she says, will be retained in the bank and won't be withdrawn.She did not disclose whether SBI will cut rates due to this.Subramanian Swamy, who also shared his views on the matter noted the government should have kept a contingency plan in place, He says ATMs should have been an important part of the demonetisation plan. The government currently is using ad-hoc measures to deal with the crisis, he adds.Watch video for more.