RBI to penalise banks for non-availability of cash in ATMs from Oct 1

The Reserve Bank will penalise banks for failure to timely replenish currency notes in ATMs machines from October 1. This step has been taken to avoid the inconvenience caused to public due to cash-out situations.

Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines. The RBI will start imposing penalty on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards.