Pl spread why atms cash ending quickly

Source - Whats app
Type of message - Social. Pl. forward.

‌Why ATMs are running out of cash? Here is an explanation given by a banker. Inside the ATMs there are caskets which hold fixed no of notes. Earlier, with a combination of Rs 1000, 500, 100 notes caskets could hold currency worth around Rs 30 to 35 lakh. Now only with Rs 100 notes they can hold just Rs 4 lakh. With every one withdrawing @ Rs 2000, ATMs are running out of cash with only 200 people drawing money.

‌Why can't machines be loaded with new Rs 2000 n 500 notes? To dispense these, ATMs need to reconfigure the hardware and software because their sizes are different.While changing software won't take much time, hardware change will need to shutdown ATM for at least two days. In the present situation it will create more chaos. Why ATMs can't be reloaded when they run dry? Cash in ATMs are loaded by private contractors. They are already working almost 24 hours, so loading ATM twice or thrice in 24 hours is a huge logistic issue for these contractors. They will have to buy new armoured vehicles, guns and hire more people with training. All additional cost their business won't support when things become normal.

I found this explanation very credible. In the short-term we will have to go through this inconvenience. Let's bear with it for sometime and for a better India. Please spread this message so that people are better informed and not influenced by baseless criticisms.