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).
