RBI will impose Panelty of Rs. 10,000 on ATMs from 01 October 2021
Penalty Rs. 10,000 on ATMs soon, for non-replenishment with cash The Reserve Bank of India (RBI) to impose Penalty Rs.10,000 soon, for non-replenishment of ATMs with cash . Key Highlights: Banks to be fined for non-availability of cash in ATMs. The RBI will start imposing penalties on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards. Banks will have to submit a system generated statement on downtime of ATMs due to non-replenishment of cash to the RBI. The bank, may, at its discretion, recover the penalty from the WLA operator Reserve Bank of India (RBI) vide notification no. RBI/2021-22/84DCM (RMMT) No.S153/11.01.01/2021-22 dated 10 th day of August 2021, issued notification regarding Monitoring of Availability of Cash in ATMs. In case of White Label ATMs (WLAs), the penalty would be charged to the bank which is meeting the cash requirement of that particular WLA. The RBI has now ...