Banks asked the Central Bank of the Russian Federation to postpone the introduction of new banknotes due to sanctions

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Banks asked the Central Bank of the Russian Federation to postpone the introduction of new banknotes due to sanctions
Banks asked the Central Bank of the Russian Federation to postpone the introduction of new banknotes due to sanctions
28 April, 09:58SocietyPhoto: 1MI
The leadership of Russian banks has asked the Central Bank to postpone the introduction of banknotes due to problems with the supply and technical support of foreign equipment.

The Central Bank of the Russian Federation planned to issue modernized banknotes in the period from 2022 to 2025. It was assumed that 100 rubles will be put into circulation in 2022, 1000 and 5000 rubles - in 2023, 500 rubles - in 2024 and 10 and 50 rubles - in 2025. However, the Association of Banks of Russia noted that credit institutions asked the regulator to postpone the introduction of new banknotes, "returning to this issue after the stabilization of the situation in the country and the establishment of channels for the supply and technical support of equipment".

The association said that some foreign ATM providers stopped providing their services in Russia due to anti-Russian sanctions. For example, Diebold Nixdorf and NCR did it. In the Russian park of ATMs, the number of equipment from these manufacturers exceeds 60%, RIA Novosti reports.

Note that all cash registers for processing banknotes are imported. Over half of the multi-pocket sorting machines used in Russia are made in Japan and Germany - these suppliers also left Russia. Now it is not possible to update the software of validators in the recycling/cash acceptance modules of ATMs. It is the same with software for cash registers and terminals, which leads to the inability to add / change templates for banknotes of both new denominations and a new sample.

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