SBI Says Over 29,000 ATMs Up And Functioning

State Bank of India in an update on ATM functioning said 29,176 of its ATMs are "up and functioning and the rest are expected to be operational by tomorrow."

Long queues were seen today at ATMs as people rushed to withdraw cash three days after the government's sudden decision to take Rs 500 and 1,000 notes out of circulation to crack down on black money. 

"Re-configuration (of ATMs), as we have done in the past, takes time so it has to be done one by one. It should be normal in ten days' time because you have to understand that there are two lakh ATMs (of all banks) in the country but there are only three to four vendors in the country," SBI's chairperson Arundhati Bhattacharya had said yesterday. 

Banks across country also witnessed heavy rush for the second day as people gathered to get new banknotes in exchange of old bills.

Press Trust of India reported that many ATMs of many banks ran out of cash in couple of hours as there was a heavy rush.

Withdrawals from ATMs will be restricted to Rs. 2,000 per day per card in the first few days, which will be raised to Rs 4,000 later.