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Banks will have to pay penalty if there is no cash in ATM, know when the new rules will be applicable

ATM New Rules: The Reserve Bank of India (RBI) has issued a directive keeping in mind the convenience of the customers. Under which RBI has decided to impose penalty on banks in case of running out of cash in ATMs.




New Delhi. The Reserve Bank of India (RBI) has issued a directive keeping in mind the convenience of the customers. Under which RBI has decided to impose penalty on banks in case of running out of cash in ATMs. The central bank has taken this step to remove the inconvenience caused to the people due to non-availability of cash in ATMs. RBI gave information about this on Tuesday. Also Raed:Ujjwala Yojana 2.0 Launch: Free gas connection to 1 crore women, PM Modi’s announcement – Address proof is not necessary

Know how much the fine will be

RBI said, “Non-compliance of the rule in this regard will be taken seriously and monetary penalty will be imposed.” This provision has been made in the penalty scheme for non-dispensing of cash in ATMs. Also Read:Good News: From August 15, only these people will be able to travel in the local train, there will be facility to watch TV…

New rules will be applicable from this day

This arrangement will come into effect from October 1. From October 1, 2021, if the cash is not found in the bank’s ATM, then banks may have to pay a fine. The central bank said in a circular that the purpose of levying penalty for non-dispensing of cash in ATMs is to ensure that there is enough money in these machines for the convenience of the people.Also Read:PM Kisan: Rs 2,000 fund of PM Kisan did not come, call on these numbers, solution will be found immediately

Know what are the new rules of RBI

RBI will impose this penalty on the banks concerned if there is not enough cash in ATMs for more than 10 hours in a month. This arrangement will come into effect from October 1, 2021. For this, RBI has asked the bank/white label ATM operator to ensure the availability of cash in the ATM and strengthen its system. Various banks across the country had 2,13,766 ATMs as of the end of June 2021.Also Read:EPFO: Money can be withdrawn from PF account equal to 3 months salary, there will be unconditional withdrawal




The Reserve Bank said that in case there is no cash in the ATM, a system generated statement will have to be given. This statement will be sent to the issue department of RBI under which ATM comes. Failure to comply with this rule will be taken seriously and fines will be imposed.Also Read:PF Withdrawal: How To Withdraw EPF Money Online, Offline, Check Here Step-by-Step Guide

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