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A new Regulation to withdraw cash from ATMs!
Posted on: 04/Jan/2022 11:14:34 AM
India’s premier Public Sector Bank, the State Bank of India, has released an important announcement for its customers!
The Rules & Regulations for withdrawing cash from ATMs have been revised.
As there are several incidents of fraud/maloperations reported while withdrawing money from ATMs in recent times, the State Bank of India has now imposed ce3rtain new safety measures to prevent this and for more secure ATM operations.
In case cash of Rs. 10000/- is withdrawn, OTP (One-Time-Password) has to be entered.
Once entering the amount to be withdrawn, a One-Time-Password (OTP) will be sent to the given mobile phone number.
Enter this OTP on the ATM. Only then, money can be withdrawn.
Another regulation for withdrawing cash from 1st January – the charges for availing ATMs for cash withdrawal have been revised upwards!
As the Reserve Bank of India had already given its approval for this upward revision of ATM Charges, this revised scheme is being implemented from 1st January 2022. Naturally, this measure has increased the hardship of the bank customer!
However, as the expenses related to the operation and maintenance of ATMs have also increased, the Banks were left with no option except to revise the charges for ATM services!
