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Friday, 8 April 2022

BIG BREAKING: Don't worry if you forget ATM now you can withdraw cash even without ATM, RBI is launching new facility

BIG BREAKING: Do not worry if you are forget ATM now you can be a withdraw a cash even without ATM, RBI is a launching a new facility.

It often happens that we go to the ATM to withdraw cash from home, but after going there we remember that we forgot to bring the ATM card. But soon RBI is going to launch a service where you can easily withdraw money from ATMs without a card.

The way UPI has proved its usefulness in promoting cashless transactions in the country. No other alternative has been found yet. With this in mind, the Reserve Bank of India is going to launch such a service based on UPI, where you can withdraw money from ATMs without a card. RBI Governor Shaktikant Das said banks have been asked to replace their ATM network with a card-less cash withdrawal system. In this system the identity of the customer will be ensured by UPI during the transaction. This system will be interoperable.

RBI Governor Shaktikanta Das told a meeting of the Reserve Bank of India's Monetary Policy Committee, "This will make the transaction very secure. Currently, the facility of cardless cash withdrawals through ATMs is limited to only a few banks. It is now proposed to make cardless cash withdrawal facility available on all banks and ATM networks using UPI. It will help prevent fraud like card skimming and card cloning. ”

What is Cardless Cash Withdrawal?

The cardless cash withdrawal facility does not require the bank customer to use his debit or credit card while withdrawing cash from the ATM. The facility was introduced in the wake of the COVID-19 epidemic in the bank, so that people do not come in contact with each other or at least do not come in contact with each other.

Which banks are getting this facility?

You can be a avail in this facility even if your account is a with other banks are including a S B I, ICICI Bank, Ax-ice Bank and Bank of Baroda. Customers can withdraw cash through their phone even without their debit card. For this, the cardholder has to use the mobile banking app and request to withdraw cash from the ATM that they do not have a debit card.

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