Home Breaking News Card-less cash withdrawal to be made available at all ATMs

Card-less cash withdrawal to be made available at all ATMs

by Times One Odia
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The Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday proposed that the card-less cash withdrawals option will be made available to all banks and ATMs using the Unified Payments Interface (UPI).

The card-less cash withdrawal transactions would help in containing frauds like skimming, card cloning, device tampering, etc, RBI said in a statement.

Currently, the facility is limited only to a few banks.  To encourage card-less cash withdrawal facility across all banks and all ATM networks/operators, it is proposed to enable customer authorisation through the use of UPI while settlement of such transactions would happen through the ATM networks, RBI added.

Under the card-less cash withdrawal facility, a customer is not required to use debit or credit cards while withdrawing cash from ATMs.

The card-less withdrawal request can be initiated for a minimum of ₹100 per transaction and up to a maximum of ₹10,000 per day or ₹25,000 per month for a beneficiary (the limits are subject to change as per regulatory guidelines).

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