Provide option of cardless cash withdrawal at ATMs: RBI to banks
India TV NewsThe 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 the absence of need for a card to initiate cash withdrawal transactions would help in containing frauds like skimming, card cloning and device tampering. To encourage cardless cash withdrawal facility across all banks and all ATM networks/operators, the RBI had proposed to enable customer authorisation through the use of UPI while settlement of such transactions would happen through the ATM networks.
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