A new payment system has been implemented for ATM card users since the beginning of this month. Similarly, the Reserve Bank of India has now issued some new rules for banks. According to a recent announcement, the RBI has aggressively announced that if there is no more cash in the ATM machines, the banks of that ATM center will be severely fined. It has been announced that the new rule will come into effect from October 1.
The people have welcomed the new announcement made by the Reserve Bank. Especially when people go to withdraw money at ATM machines you get into a lot of trouble if the money does not come in the ATM. Then even getting 100 rupee notes is difficult now.
The Reserve Bank of India (RBI) is currently in the process of taking action against the banks for relieving the people from this problem. .
The move comes in the wake of frequent complaints that ATMs in cities and rural areas are running out of cash for days at a time. Thus, the general public faces some problem. No money for more than 10 hours?
If you do not receive money at an ATM for more than 10 hours, those banks will be fined. The RBI has said that the fines will vary from region to region. Banks have numerous ATMs in a city, some of which are likely to raise doubts as to which ATMs banks are rare in.
How can banks find out how much money is in the TM machine? Let us now see what the answer is. In operation ATM machines, some sensors are fitted to detect how much cash is in reserve. This may be something that many are unaware of.
With these sensors, banks can track how much money is in that ATM machine on a real-time basis.
ATMs no longer need to be replenished Instantly this information is shared directly with the banks, such as how much money is in the ATM, how long it is likely to run out, and on average how long it will take for the bank to refill at that ATM. With this information, it is noteworthy that banks have to fill up cash in its ATM machines.
The new rule works to ensure that the public will no longer have difficulty withdrawing money and that there will always be cash in ATM machines. According to the action taken by the Reserve Bank of India, if there is no cash in the ATM machine for more than 10 hours, the concerned bank will be charged Rs. It has been reported that a fine of Rs 10,000 will be imposed. Thus, it is hoped that the public will no longer have difficulty in withdrawing money.
