Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out
5 years, 1 month ago

Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out

India TV News  

Bank ATM Transaction: In a move to put a curb on the increase in fraud in ATM cash withdrawals and ensure its safety, the Reserve Bank of India on Thursday announced new guidelines on ATM transactions. In its bi-monthly “Statement on Developmental and Regulatory Policies”, the central bank noted that several banks and other regulated entities depend on third-party application service providers for shared services for ATM Switch applications. “A number of commercial banks, urban cooperative banks and other regulated entities are dependent upon third-party application service providers for shared services for ATM Switch applications,” RBI said. The mandatory guidelines would require the service provides to implement several measures to strengthen the process of deployment and changes in application softwares in the ecosystem, continuous surveillance and implementation of controls, the RBI said. “The guidelines would require the implementation of several measures to strengthen the process of deployment and changes in application softwares in the ecosystem; continuous surveillance; implementation of controls on storage, processing and transmission of sensitive data; building capacity for forensic examination; and making the incident response mechanism more robust,” RBI said.

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History of this topic

Are Indian banks phasing out ATMs?
2 months ago

Are Indian banks phasing out ATMs?

Firstpost  

Banks in India have shut down a number of ATMs and cash recyclers despite record cash circulation. Banks shutting ATMs amid high cash circulation The decline in the number of ATMs in India comes at a time when cash in circulation in the country is Rs 34.70 lakh crore, a whopping 100 per cent increase since the demonetisation. As per …

RBI issues draft guidelines on payment aggregators | Check details
8 months, 3 weeks ago

RBI issues draft guidelines on payment aggregators | Check details

India TV News  

Aiming to boost the payment ecosystem, The Reserve Bank of India on Tuesday issued draft guidelines to further strengthen regulations on payment aggregators. "Given the growth in digital transactions and the significant role that PAs play in this space, the current directions on PAs are proposed to be updated and cover, inter alia, KYC and due diligence of merchants, operations …

RBI Monetary Policy: New changes announced to electronic trading platforms, digital payments
11 months ago

RBI Monetary Policy: New changes announced to electronic trading platforms, digital payments

New Indian Express  

The Reserve Bank of India today released a major policy statement outlining several developmental and regulatory initiatives covering financial markets, regulations pertaining to lending institutions, and payment systems including digital currency and fintech. On the financial markets front, RBI announced that it will comprehensively review the existing regulatory guidelines for Electronic Trading Platforms that enable transactions in financial instruments regulated …

India's first UPI-ATM unveiled for hassle-free, cardless cash withdrawals. Here's how it works
1 year, 4 months ago

India's first UPI-ATM unveiled for hassle-free, cardless cash withdrawals. Here's how it works

Hindustan Times  

India's first UPI-ATM was launched on Tuesday as a White Label ATM by Hitachi Payment Services in collaboration with the National Payments Corporation of India in order to enable “seamless cash withdrawals”, eliminating the need to carry physical ATM cards. The UPI-ATM service, also known as Interoperable Cardless Cash Withdrawal, offers a convenient way for customers of participating banks who …

White label ATMs set to drive ATM spread in tier III to VI centres: Karad
1 year, 5 months ago

White label ATMs set to drive ATM spread in tier III to VI centres: Karad

Live Mint  

New Delhi: White Label ATMs are expected to drive ATM spread across India with a greater focus on tier III to VI centres, said Union Minister of State for Finance, Bhagwat Kisanrao Karad, in a written reply in Rajya Sabha on Tuesday. To expand ATM access in the country, the Reserve Bank of India has granted permission to non-bank entities …

ATM: Do You Have to Pay Rs 173 per Transaction after 4 Withdrawals in a Month? Govt Clarifies
2 years, 5 months ago

ATM: Do You Have to Pay Rs 173 per Transaction after 4 Withdrawals in a Month? Govt Clarifies

News 18  

ATM Withdrawal Rule: The Reserve Bank of India has its guidelines when it comes to withdrawing money from ATMs or do non-financial transactions using them. दावा: ATM से 4 से अधिक बार पैसे निकालने पर ₹173 काटे जाएंगे। #PIBFactCheck▶️यह दावा फर्जी है। ▶️अपने बैंक के ATM से हर माह 5 मुफ्त ट्रैन्ज़ैक्शन किए जा सकते हैं। ▶️इसके बाद अधिकतम ₹21/ट्रांजैक्शन …

Provide option of cardless cash withdrawal at ATMs: RBI to banks
2 years, 7 months ago

Provide option of cardless cash withdrawal at ATMs: RBI to banks

India TV News  

The Reserve Bank on Thursday asked banks to provide the option of Interoperable Card-less Cash Withdrawal at their ATMs, a move aimed at curbing frauds like skimming, card cloning and device tampering. "All banks, ATM networks and WLAOs may provide the option of ICCW at their ATMs," the central bank said in a circular. In April, the RBI had said …

Cardless cash withdrawal via UPI at all banks' ATMs soon | How will this benefit you
2 years, 9 months ago

Cardless cash withdrawal via UPI at all banks' ATMs soon | How will this benefit you

India Today  

The Reserve Bank of India on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs. "It is now proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the UPI. The RBI said that the absence of a need for a card to initiate cash withdrawal transactions would help in containing …

Card-less cash withdrawal facility across all banks' ATM network soon: RBI
2 years, 9 months ago

Card-less cash withdrawal facility across all banks' ATM network soon: RBI

India TV News  

Highlights The facility is proposed to be made available through the Unified Payments Interface Settlement of such transactions would happen through the ATM networks In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs. "It is now proposed to make card-less cash withdrawal facility available across all …

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon
3 years, 6 months ago

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon

News 18  

The Reserve Bank of India has allowed banks to increase charges on automated teller machines to Rs 21 per transaction. For customers using other bank ATMs for cash withdrawal are allowed three free ATM transactions in metro cities and five in non-metro centres. “It is also observed that the last change in interchange fee structure for ATM transactions was in …

ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit
3 years, 6 months ago

ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit

India TV News  

The Reserve Bank of India has allowed the banks to hike the fee charged on cash withdrawal beyond the permitted free ATM transaction limit from Rs 20 to Rs 21 per transaction, with effect from January 1, 2022. Beyond the free transactions, the ceiling/cap on customer charges is Rs 20 per transaction. "To compensate the banks for the higher interchange …

Fraudsters find new ways to withdraw money from ATMs
3 years, 8 months ago

Fraudsters find new ways to withdraw money from ATMs

India TV News  

In view of increasing incidents of Man in the Middle attacks on ATMs, all banks have been asked to enhance their safety norms for ATMs through end-to-end encryption in the network, officials said. Investigations by security agencies have found that cyber fraud gangs have started adopting a new modus operandi to withdraw money from ATMs, a security official aware of …

Cash withdrawal from wallets; RTGS for non-banks: Key RBI Monetary Policy announcements
3 years, 9 months ago

Cash withdrawal from wallets; RTGS for non-banks: Key RBI Monetary Policy announcements

Live Mint  

To encourage non-bank financial institutions such as mobile wallets and payments banks, Reserve Bank of India announced a host of changes in its monetary policy on Wednesday. From extending the National Electronic Funds Transfer and Real-Time Gross Settlement facilities to non-bank payment system operators to hiking the maximum end of day balance for payment banks, here are the key announcements …

New ATM card, credit card rules to be effective from October 1: All you need to know
4 years, 3 months ago

New ATM card, credit card rules to be effective from October 1: All you need to know

Hindustan Times  

Several banks in the past few days have been sending out messages informing the customers that online transactions on their debit cards will be switched off by September 30. Banks are sending messages to customers informing that online transactions on their ATM cards will be stopped by September 30. The RBI has asked all banks and other card-issuing companies to …

Debit Card, Credit Card new rules come into force from October 1. All you need to know
4 years, 3 months ago

Debit Card, Credit Card new rules come into force from October 1. All you need to know

India TV News  

In an attempt to make online and card payments more secure, the Reserve Bank of India has issued new guidelines that will be effective from October 1, 2020. RBI's new guidelines for Credit, Debit card holders: As per new rules, people will now be able to register for preferences such as opt-in or opt-out services, spend limits and other services …

SBI Extends OTP-Based ATM Withdrawal Throughout the Day
4 years, 3 months ago

SBI Extends OTP-Based ATM Withdrawal Throughout the Day

The Quint  

To reinforce ATM security system, lending major State Bank of India on Tuesday, 15 September, has extended its OTP-based cash withdrawal for Rs 10,000 and above throughout the day. OTP-based cash withdrawal for Rs 10,000 can now be carried out throughout the day across all SBI ATMs in the country starting 18 September. "For withdrawing Rs 10,000 and above, SBI …

SBI to change ATM cash withdrawal rules from September 18. Know details
4 years, 3 months ago

SBI to change ATM cash withdrawal rules from September 18. Know details

Live Mint  

India's biggest bank SBI is extending OTP-based cash withdrawal for ₹ 10,000 and above throughout the day across all SBI ATMs in the country. For safeguarding customers, SBI had introduced OTP based cash withdrawals of above ₹10,000 between 8 PM – 8 AM through SBI ATMs from January 1, 2020. "With the introduction of 24x7 OTP-based cash withdrawal facility, SBI …

SBI new ATM withdrawal rules: Transaction limits, charges and other details
4 years, 6 months ago

SBI new ATM withdrawal rules: Transaction limits, charges and other details

Live Mint  

State Bank of India has revised its ATM withdrawal rules with effect from 1 July. In view of the coronavirus pandemic, SBI had waived service charges for all ATM transactions made on SBI ATMs as well as other bank ATMs on account of exceeding free number of transactions. "In view of the announcement made by Finance Minister on 24th March, …

RBI releases FAQs on cash withdrawals at PoS terminals
4 years, 8 months ago

RBI releases FAQs on cash withdrawals at PoS terminals

Live Mint  

MUMBAI: The Reserve Bank of India on Tuesday reiterated the existing information on cash withdrawals from point of sale terminals in form of frequently asked questions. RBI said under this facility, cardholders can withdraw cash using their debit cards and open system prepaid cards issued by banks in India. Moreover, RBI said cash can also be withdrawn at PoS terminals …

Coronavirus Outbreak: Centre asks states to ensure normal functioning of banks, ATMs during lockdown
4 years, 9 months ago

Coronavirus Outbreak: Centre asks states to ensure normal functioning of banks, ATMs during lockdown

Firstpost  

The Centre has asked all states and Union Territories to ensure normal functioning of banks and ATMs during the lockdown period as the Rs 27,500-crore financial package announced under the Prime Minister Garib Kalyan Yojana will be disbursed in coming days New Delhi: The Centre has asked all states and Union Territories to ensure normal functioning of banks and ATMs …

ATM cash withdrawal: SBI shares 7 safety tips to guard against coronavirus
4 years, 9 months ago

ATM cash withdrawal: SBI shares 7 safety tips to guard against coronavirus

Live Mint  

In the time of novel coronavirus, you must take every precaution to save yourself and your family from the deadly virus. Country's largest lender State Bank of India has shared certain tips for all bank customers using ATM for withdrawing cash. Precautions you must take while using an ATM as mentioned by SBI are as under: 1) Avoid using the …

RBI's new rules for debit and credit cards; move aimed at improving convenience, security of transactions
4 years, 9 months ago

RBI's new rules for debit and credit cards; move aimed at improving convenience, security of transactions

Firstpost  

RBI has directed banks to allow only domestic card transactions at ATMs and PoS terminals in India at the time of issuance/reissuance of the card. For international transactions, online transactions, card-not-present transactions and contactless transactions, customers will have to separately set up services on their card, the RBI said. In January, the RBI had issued new rules to improve user …

Yes Bank customers scramble for cash withdrawal at branches, most ATMs run dry
4 years, 10 months ago

Yes Bank customers scramble for cash withdrawal at branches, most ATMs run dry

Hindustan Times  

Panicked Yes Bank customers were seen queuing up at the bank’s ATMs at various locations, but to no avail as most cash-dispensing machines ran dry, after the Reserve Bank placed the crisis-hit lender under a moratorium. Panicked Yes Bank customers were seen queuing up at the bank’s ATMs at various locations However, many a customers said they were able to …

Security tightened at Yes Bank branches, ATMs in Mumbai as depositors rush to withdraw money
4 years, 10 months ago

Security tightened at Yes Bank branches, ATMs in Mumbai as depositors rush to withdraw money

India TV News  

As Yes Bank depositors rush to ATMs on Friday to withdraw cash a day after it was put under a moratorium, security at its branches, ATMs, headquarters across Mumbai was tightened to avert any untoward incident. The RBI has capped a withdrawal limit of Rs 50,000 as Yes Bank's faces capital crunch. During the day, account-holders rushed to branches of …

RBI New Debit card, Credit card Rules: Here're some KEY points cardholders must know
4 years, 11 months ago

RBI New Debit card, Credit card Rules: Here're some KEY points cardholders must know

India TV News  

RBI new Debit card, Credit card rules:: the Reserve Bank of India introduced several new guidelines to secure debit cards and credit cards, amid a rise in banking fraud cases. As per RBI's new direction, all the new debit and credit cards issued by banks will only be enabled for domestic transactions at ATMs and point of sale terminals from …

SBI ATM cash withdrawal: New rules from today. Details explained here
5 years ago

SBI ATM cash withdrawal: New rules from today. Details explained here

Live Mint  

Keeping in view the incidents of ATM-related frauds on the rise, State Bank of India has introduced a one-time password -based cash withdrawal system for its ATMs. SBI's OTP-based ATM cash withdrawal facility has come into system with effect from today, 1st January 2020. How will SBI customer withdraw cash through OTP In this process, once the cardholder enters the …

For SBI account holders, 3 things that change from today
5 years ago

For SBI account holders, 3 things that change from today

Live Mint  

From today, 1st January 2020, few rules are changing for State Bank of India. In an attempt to improve customer experience, SBI is making some changes in its services like OTP-based ATM transactions, upgradation to EMV chip debit card, and reduction in its external benchmark based rate resulting in cheaper home loans. Let's take a look at what will change …

Important news for SBI cardholders! Bank introduces OTP-based cash withdrawal system. Get details here
5 years ago

Important news for SBI cardholders! Bank introduces OTP-based cash withdrawal system. Get details here

India TV News  

In recent times, many cases of unauthorized transactions on account of skimmed/cloned cards were registered that led to fraud. To minimise the number of unauthorized transactions happening on ATMs, the State Bank of India has decided to introduce the OTP-based cash withdrawal system. The bank on its official Twitter handle posted a tweet, "Introducing the OTP-based cash withdrawal system to …

Attention ATM users! SBI, Bank of Baroda restrict cash withdrawals from micro-ATMs of other banks
5 years, 3 months ago

Attention ATM users! SBI, Bank of Baroda restrict cash withdrawals from micro-ATMs of other banks

India TV News  

Bank ATM users alert: Bank of Baroda and State Bank of India have put cash withdrawal limitations for customers at micro-ATM terminals of other banks, in a move that would majorly impact banking services in rural areas. According to Economic Times reports, under new rules, BoB has limited its withdrawals for customers from micro-ATM terminals of other banks to four …

Bank of India asks account holders to stop using debit cards for cash withdrawal – India TV
5 years, 3 months ago

Bank of India asks account holders to stop using debit cards for cash withdrawal – India TV

India TV News  

Amid a massive rise in the fraud cases happening through bank ATM cards or debit cards like cloning and skimming, India's one of the largest public sector bank Bank of India has issued an advisory for its customer. The bank in its statement has warned its customer of banking fraud and has asked them to stop using a debit card …

ATM users beware: Canara Bank issues advisory after attempted fraud
5 years, 4 months ago

ATM users beware: Canara Bank issues advisory after attempted fraud

Live Mint  

Over the last few days, a video of a cautious user who spotted a device to read debit card data at a Canara Bank ATM in New Delhi is being circulated widely. In order to safeguard their customers against risk while using debit cards for cash withdrawals at ATMs, Canara Bank has also launched India's first OTP facility for ATM …

ATM cash withdrawals above ₹10,000 needs OTP: Canara Bank launches new facility
5 years, 4 months ago

ATM cash withdrawals above ₹10,000 needs OTP: Canara Bank launches new facility

Live Mint  

Public sector lender Canara Bank says it has launched India’s first OTP facility for ATM withdrawals. Canara Bank said that the OTP facility will get activated on ATM cash withdrawals of ₹10,000 in a day. In an August 20 tweet, Canara Bank said, “Now your ATM cash withdrawals in Canara Bank ATMs get safer and more secured with OTP facility …

Good news for debit card, credit card bank ATM users! RBI says don't pay, if this happens
5 years, 4 months ago

Good news for debit card, credit card bank ATM users! RBI says don't pay, if this happens

India TV News  

Debit card, credit card user' alert: If you are a Debit card or Credit card user and go to bank ATMs for cash withdrawal then there is good news for you from Reserve Bank of India. According to reports, RBI has clarified that due to any technical reason----be it hardware or software or wrong PIN entry or communication issue or …

Banks cannot charge for these ATM transactions. Details here
5 years, 4 months ago

Banks cannot charge for these ATM transactions. Details here

Live Mint  

Banks can't include non-cash withdrawal transactions like balance enquiry, cheque book request, payment of taxes and funds transfer under free ATM transactions. 2) Other failed ATM transactions like non-availability of currency notes in the ATM, transaction declines attributable to the bank or service provider will also not be considered as valid ATM transactions for the customer. "It has come to …

RBI tells banks on what not to count as part of ’free ATM transactions’
5 years, 4 months ago

RBI tells banks on what not to count as part of ’free ATM transactions’

Live Mint  

Mumbai: The Reserve Bank on Wednesday asked banks not to count failed transactions at ATMs due to technical reasons as part of "free ATM transactions" permitted every month. Besides, use of ATMs for balance enquiry and fund transfers too should be not part of the free transactions facility given to a customer. The RBI's clarification in this regard comes after …

Is it finally time for a hike in ATM interchange fees?
5 years, 6 months ago

Is it finally time for a hike in ATM interchange fees?

Live Mint  

The Reserve Bank of India recently set up a committee to review the ATM interchange fee. V Balasubramanian, President - Merchant & Terminal Business, FSS Balasubramanian V, Confederation of ATM Industry Rate hike will add more ATMs, promote inclusion We have been pushing for a hike in interchange rate as new regulatory requirements, coupled with low interchange rates, were making …

RBI to review ATM charges: How will it affect your money withdrawal?
5 years, 6 months ago

RBI to review ATM charges: How will it affect your money withdrawal?

Live Mint  

Mumbai: Recently, the Reserve Bank of India set up a committee to review the automated teller machine interchange fee. The committee will review the existing structures and patterns of costs, charges and interchange fees for ATM transactions, the overall patterns of usage of ATMs by cardholders and assess the impact on charges and interchange fees, assess the entire gamut of …

SBI ATM withdrawal rules: Free transactions, charges and other details
5 years, 6 months ago

SBI ATM withdrawal rules: Free transactions, charges and other details

Live Mint  

The charges you pay for using Automated Teller Machines may change soon. Currently, the State Bank of India offers eight free transactions to regular savings bank account holders, including five transactions at SBI ATMs and three at other bank ATMs. In non-metros, such account holders get 10 free transactions, including five at SBI ATMs and five at others. The bank …

RBI asks banks to grout ATMs to wall, pill or floor to enhance security
5 years, 6 months ago

RBI asks banks to grout ATMs to wall, pill or floor to enhance security

Live Mint  

The Reserve Bank on Friday asked banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end, except those installed in high secured premises such as airports, to enhance security of the cash vending machines. As part of the security measures, all "ATMs shall be operated for cash replenishment only with digital One Time Combination locks". …

Opinion | The slow suffocation of ATMs in the country
5 years, 7 months ago

Opinion | The slow suffocation of ATMs in the country

Live Mint  

Human memory is short, but a small trigger can revive painful episodes. According to the Reserve Bank of India, the number of ATMs across the country has shrunk over the past two years despite rising transactions done on these machines. A Bloomberg report published on Thursday in Mint refers to an International Monetary Fund chart for 2017 which shows that …

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