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RBI proposes cardless cash withdrawal at ATMs, banks via UPI

By The Assam Tribune
RBI proposes cardless cash withdrawal at ATMs, banks via UPI
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Source: PTI Photo

Guwahati, April 8: Cardless cash withdrawal will soon be made available at all banks and ATMs using the Unified Payments Interface (UPI).

As per a statement by the RBI, cardless cash withdrawal facility was currently applicable to a few banks and now it has been proposed to make the facility available across all banks and ATM networks using UPI.

The announcement was made during the monetary policy by Reserve Bank of India (RBI) Governor Shaktikanta Das.

"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 said in the statement.

Under this new facility, individuals can withdraw cash without any debit card at Automated teller machines (ATMs) and they can use their mobile phone which is enabled with a banking app to do the same.

The RBI further added that the new facility would help in containing frauds like skimming, card cloning, device tampering, etc.

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RBI proposes cardless cash withdrawal at ATMs, banks via UPI

Guwahati, April 8: Cardless cash withdrawal will soon be made available at all banks and ATMs using the Unified Payments Interface (UPI).

As per a statement by the RBI, cardless cash withdrawal facility was currently applicable to a few banks and now it has been proposed to make the facility available across all banks and ATM networks using UPI.

The announcement was made during the monetary policy by Reserve Bank of India (RBI) Governor Shaktikanta Das.

"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 said in the statement.

Under this new facility, individuals can withdraw cash without any debit card at Automated teller machines (ATMs) and they can use their mobile phone which is enabled with a banking app to do the same.

The RBI further added that the new facility would help in containing frauds like skimming, card cloning, device tampering, etc.