{"id":32862,"date":"2022-03-31T19:45:24","date_gmt":"2022-03-31T14:15:24","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-rbi-atm\/"},"modified":"2022-03-31T19:45:24","modified_gmt":"2022-03-31T14:15:24","slug":"biz-rbi-atm","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-rbi-atm\/","title":{"rendered":"Banks get time till March 2023 to implement new system to replenish cash in ATMs"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2724678540\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Mar 31 (PTI) The Reserve Bank of India on Thursday gave another extension till March 2023 to banks to implement its direction on use of only lockable cassettes for replenishing cash in their ATMs.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2183630700\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Currently, most of the ATMs (Automated Teller Machines) are replenished by way of open cash top-up or by loading cash in the machines on the spot.<\/p>\n<p> 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.<\/p>\n<p> In April 2018, the regulator had asked banks to consider using lockable cassettes in their ATMs, which shall be swapped at the time of cash replenishment. It was to be implemented in a phased manner, covering at least one-third ATMs operated by the banks every year, so that all ATMs achieve cassette swap by March 31, 2021.<\/p><div class=\"trade-content_5\" id=\"trade-725458481\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> However, in July last year, RBI had extended the deadline till March 31, 2022.<\/p>\n<p> &#8220;Representations have been received from various banks and Indian Banks&#8217; Association, expressing difficulties in meeting the timeline. Accordingly, it has been decided to extend the timeline for implementation of cassette swap in all ATMs till March 31, 2023,&#8221; the RBI said in a circular.<\/p>\n<p> The RBI has also asked banks to set a board-approved internal timeline to adhere to the extended deadline and submit quarterly status reports.<\/p>\n<p> Boards of the banks shall monitor the progress to ensure compliance, the circular said.<\/p>\n<p> The recommendation to switch to lockable cassettes in ATMs was based on a report of the Committee on Currency Movement set up by the central bank.<\/p>\n<p> At the end of February, 2022, there were 1,20,597 ATMs on the site of banks and 1,00,909 off-site ATMs in the country. PTI NKD  NKD HVA HVA<\/p><div class=\"trade-content-10\" id=\"trade-3685716606\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-3302440207\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Mar 31 (PTI) The Reserve Bank of India on Thursday gave another extension till March 2023 to banks to implement its direction on use of only lockable cassettes for replenishing cash in their ATMs. Currently, most of the ATMs (Automated Teller Machines) are replenished by way of open cash top-up or by loading cash [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-32862","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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