RBI HAS PROVIDED THAT CASH-OUT AT ANY ATM OF MORE THAN TEN HOURS IN A MONTH WILL ATTRACT A FLAT PENALTY OF ₹ 10,000/- PER ATM WITH EFFECT FROM 1ST OCTOBER 2021.
RESERVE BANK OF INDIA
RBI/2021-22/84
DCM (RMMT) No.S153/11.01.01/2021-22
August 10, 2021
The Chairman / Managing Director & CEO
All Banks
Dear Sir / Madam,
Monitoring of Availability of Cash in ATMs
As you are aware, the Reserve Bank of India has a mandate to issue banknotes and the banks are fulfilling this mandate by dispensing banknotes to the public through their wide network of branches and ATMs. In this connection, a review of downtime of ATMs due to cash-outs was undertaken and it was observed that ATM operations affected by cash-outs lead to non-availability of cash and cause avoidable inconvenience to the members of the public.
2. It has, therefore, been decided that the banks/ White Label ATM Operators(WLAOs) shall strengthen their systems/ mechanisms to monitor availability of cash in ATMs and ensure timely replenishment to avoid cash-outs. Any non-compliance in this regard shall be viewed seriously and shall attract monetary penalty as stipulated in the “Scheme of Penalty for non-replenishment of ATMs” in the Annex. The Scheme shall be effective from October 01, 2021.
Yours faithfully,
(SubrataDas)
Chief General Manager-in-Charge
Encl: As above
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