The Reserve Bank insists on cardless ATM transactions, you know what your profit is
This time the facility of withdrawing money without debit card will be available in all ATMs of the country. This was stated by Reserve Bank Governor Shashikanta Das while announcing the monetary policy of the country on Friday.
RBI Monetary Policy: This time all ATMs in the country will have the facility to withdraw money without debit card. This was stated by Reserve Bank Governor Shashikanta Das while announcing the monetary policy of the country on Friday. Find out what is the benefit to you and me when this rule starts.
The Reserve Bank of India (RBI) has been meeting on monetary policy for the new fiscal since April 6. The three-day meeting was an overall assessment of the country’s financial situation. Based on that assessment, the country’s monetary policy was announced by Reserve Bank Governor Shashikanta Das. He said that all ATMs in India can withdraw money without debit card. According to the central bank governor, the RBI is going to make this system a reality through Unified Payments Interface or UPI. At present, only certain bank cards allow you to withdraw money from ATMs.
In many cases, the fraudulent cycle is manipulating the customer’s money by cloning the ATM card. Even the details of the customer’s debit card are being taken away by putting the skimming machine inside the ATM. If there is no need to use the card in the ATM, the customer will benefit. There is no risk of taking or losing a debit card.