Mumbai, Jul 14 () The Reserve Bank has extended the deadline till March 2022 for banks to use only lockable cassettes for replenishing cash in ATMs. Currently, most of the ATMs (Automated Teller ...

Customers will now get to smell and feel better quality notes when they withdraw from ATMs even as it cuts down on counterfeits, discrepancies in the accounting (of cash), and aligns the country’s ...

To do away with the current system, the Reserve Bank of India (RBI) had asked banks to ensure that lockable cassettes are swapped at the time of cash replenishment in the ATMs. (Representational image ...

Banks are planning to seek the Finance Ministry’s intervention in reviewing guidelines on using lockable cassettes in ATM machines. This comes after the Reserve Bank of India refused to review the ...

https://www.thehindubusinessline.com/money-and-banking/banks-urge-rbi-to-ease-up-on-cassette-swap-norm-in-atms/article24505464.ece Copy Staring at a huge expenditure ...

One of these is with respect to the RBI circular dated April 12, 2018, which directed banks to use lockable cassettes in their ATMs which would be swapped at the time of cash replenishment. The report ...

In order to mitigate risks involved in open cash replenishment, the regulator has advised banks to use lockable cassettes in their ATMs that can be swapped at the time of cash replenishment ...

RBI in its circular said Banks must set a Board approved internal timeline to adhere to the extended deadline and submit quarterly status reports. Boards of the banks shall monitor the progress to ...

The Reserve Bank of India (RBI) has extended the timeline for implementation of cassette swap in all ATMs till March 31, 2022. Currently, most of the ATMs (Automated Teller Machines) are replenished ...