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Looks like the Indian economy won't get better any time soon

Ficci has projected the country's annual median GDP growth for 2020-21 at (-) 4.5 per cent.


12 July, 2020, 06:56 PM IST



RBI asks banks to speed up ATM upgrades as deadline looms large

Most banks have not initiated upgrades on cassette swap, e-surveillance and digital locks as their cost analysis of such an overhaul is significantly higher than central bank’s estimates, said people aware of the matter.

Cash withdrawal from ATMs dips in April

According to data released by the RBI in monthly bulletin for June, the number of transactions or cas...

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  • Punjab National Bank collected around Rs 268 crore as ATM transaction charges and annual maintenance fee on debit cards during 2019-20 fiscal, according to an RTI reply.

    Kotak's 'ATM on Wheels' gives citizens of the Delhi-NCR region convenient and easy access to cash withdrawal services in their locality. All safety procedures, including providing hand sanitisers to every customer before use of the ATM, periodic sanitisation of the ATM and maintaining social distancing, will be strictly followed, Kotak said.

    As a caution and safety measure for customers, SBI has also advised the account holders to change the ATM PIN at regular intervals, cover ATM/POS keypad while entering the PIN, memorize the security transaction number rather than writing it down on the card or anywhere else.

    The waiver announced on the ATM withdrawal charges has expired on June 30, 2020. If you are an SBI customer, from July 1, here are the charges and limits that will be applicable on your ATM transactions.

    Additionally, the data will also include the withdrawals made at ATMs and cash availability with business correspondents.

    All necessary precautions in terms of maintaining social distancing and sanitisation are being taken to ensure health safety of staff and customers at these facilities.

    ​The lender is also planing to take the ATM to the business correspondent touchpoints or branches in view of the withdrawal of Rs 500 by women beneficiaries of the Prime Minister Jan Dhan Yojana accounts.

    The mobile ATMs will offer all the services that are available at normal ATMs. Apart from cash withdrawals, key services which can be availed by customers are transfer of funds to registered payees, change of PIN, recharge of pre-paid mobiles, fixed deposits, cardless cash withdrawals among others, as per the press release issued on behalf of the bank.

    The mobile van carrying the ATM piloted in Mumbai & Noida, with plans to extend the service to the rest of the country shortly. The locations for deployment are being identified in consultation with local municipal authorities in respective cities, the bank said.

    According to data released by the RBI in monthly bulletin for June, the number of transactions or cash withdrawal volume from ATMs also declined 28.66 crore in April from 54.71 crore in the previous month. April was the first full month of lockdown, due to which movements were restricted in a majority parts of the country.

    Further, the central government has announced a financial package under the Prime Minister Garib Kalyan Yojana under which approximately Rs 27,500 crores are going to be disbursed during this week and in the coming weeks to the targeted public through bank branches, ATMs and business correspondents (BCS), Bhalla said.

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