Reviewing scheme to penalise banks for dry ATMs: RBI
The Hindu
As per the scheme, cash-out of more than ten hours at any ATM in a month will attract a flat penalty of ₹ 10,000 per ATM.
The Reserve Bank of India is reviewing its scheme of penalising banks for non-replenishment of ATMs after getting feedback from lenders, its Deputy Governor T. Rabi Sankar said on Friday.
In August this year, RBI had announced that it will penalise banks for failure to timely replenish currency notes in ATMs. The scheme, which is aimed at ensuring availability of sufficient cash for the public through ATMs, has come into effect from October 1, 2021.
“We have received various feedback—some positive and some raising concerns. There are issues specific to locations. We are trying to take all the feedback and have a review and see how best it can be implemented,” Mr. Sankar told reporters in a post policy call with reporters on Friday.
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