Description

Highlights

The deadline for banks to use lockable cassettes in their ATMs that can be swapped during cash replenishment has been extended by the RBI to March 31, 2023. The decision was made after the RBI received submissions from various banks and the Indian Banks' Association indicating difficulty achieving the deadline, according to a notification released on April 1, 2022. It has ordered the boards of directors of the banks to keep track of developments and maintain compliance by developing an internal roadmap that has been approved by the Board to meet the extended deadline and deliver a quarterly status report.

Most ATMs are currently refilled by open cash top-ups or by inserting cash into the devices on the spot. The RBI requires that lockable cassettes be switched when cash is refilled at ATMs. Banks planned to phase in lockable cassettes over time, with at least one-third of their ATMs protected by March 31, 2021. The deadline was later pushed back to March 31, 2022.

For more Updates and Information - Click here 

For access to more than 10,000 Colleges - Click here

For Latest Sarkari Jobs - Click here

For Comprehensive Preparation of Sarkari Job Exams - Click here

For Comprehensive Preparation of Competitive Exams - Click here

For School Studies and Exams Preparation across Eight Boards - Click here