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Monitoring of Availability of Cash in ATMs - DCM (RMMT) No.S153/11.01.01/2021-22 - Indian Law

Extract

..... rations affected by cash-outs lead to non-availability of cash and cause avoidable inconvenience to the members of the public. 2. It has, therefore, been decided that the banks/ White Label ATM Operators (WLAOs) shall strengthen their systems/ mechanisms to monitor availability of cash in ATMs and ensure timely replenishment to avoid cash-outs. Any non-compliance in this regard shall be viewed seriously and shall attract monetary penalty as stipulated in the “Scheme of Penalty for non-repl .....

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Monitoring of Availability of Cash in ATMs - DCM (RMMT) No.S153/11.01.01/2021-22 - Indian Law

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..... meeting their cash requirement shall furnish a separate statement on behalf of WLAOs on cash-out of such ATMs due to non-replenishment of cash. Such statements shall be submitted for every month within five days of the following month i.e., first such statement for the month of October 2021 shall be submitted on or before November 05, 2021 to the Issue Department concerned. Quantum of Penalty Cash-out at any ATM of more than ten hours in a month will attract a flat penalty of ₹ 10,000/- p .....

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Monitoring of Availability of Cash in ATMs - DCM (RMMT) No.S153/11.01.01/2021-22 - Indian Law

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