RBI permits all banks & ATM networks to provide Card-less Cash Withdrawal
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- Last Updated on 21 May, 2022
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Circular no. RBI/2022-23/54 CO.DPSS.POLC.No.S-227/02-10-002/2022-23, Dated: 19.05.2022
The RBI vide. PR dated April 8, 2022, had introduced Interoperable Card-less Cash Withdrawal (ICCW) through ATMs as a permitted mode of transaction which was offered by a few banks. Now, the RBI has advised that all banks, ATM networks, and White Label ATM Operators (WLAOs) may provide the option of Interoperable Card-less Cash Withdrawal (ICCW) at their ATMs. Further, NPCI has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.
Withdrawal limits for ICCW transactions shall be in-line with the limits for regular on-us / off-us ATM withdrawals. All other instructions related to Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions shall continue to be applicable.
Click Here To Read The Full Circular
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