Dry ATM News: Now the Automatic Teller Machine or ATM (ATM) of banks has become a very important tool for doing money related transactions.
The way the number of bank accounts and debit cards is increasing in the country, according to that banks are not able to speed up the installation of ATMs. Even after this, many people depend on bank ATMs to do their work.Also Read:1GB data per day, unlimited video-voice calling and more for just Rs 18
If you also live in an area where bank ATMs are constantly malfunctioning, then there is good news for you. India’s banking regulator Reserve Bank of India (RBI) has proposed to impose penalty on banks if their ATMs are faulty from October 1. If cash is not kept in a bank’s ATM for 10 hours in a month, then a fine of ₹ 10,000 can be imposed on that bank.Also Read:Electricity New Ruls: The amount of money in the meter, the electricity will burn only, know what is the matter
RBI Initiatives
According to this initiative of RBI, banks can be penalized if ATMs are out of cash for 10 hours or more. Taking strict steps, India’s central bank RBI has directed banks to submit a report by the fifth day of every month on the number of hours its ATMs have been without cash. Banks will have to pay a fine of Rs 10,000 per ATM if the ATM remains dry for more than 10 hours in a month.Also Read:Kangana Ranaut showed off her boldest look ever, shared a bold photo in a transparent bralette
Customers will have less trouble
The Reserve Bank of India has made this arrangement to reduce the hassle faced by the customers. Many people depend on bank ATMs for their transactions or purchases. Their problems increase as they do not get cash on weekends or bank holidays. According to this arrangement of the Reserve Bank of India (RBI), if there is no cash in white label ATMs or ATMs run by non-banking institutions, a penalty will be imposed on the bank which is responsible for filling the cash in that ATM.
