THE BANK IS FINED - IF CASH NOT IN ATM
THE BANK IS FINED - IF CASH NOT IN ATM
If not the case in ATM, the bank is fined 10,000
Monitoring of Availability of Cash in ATMs
As you are aware, the Reserve Bank of India has a mandate to issue banknotes and
the banks are fulfilling this mandate by dispensing banknotes to the public through
their wide network of branches and ATMs. In this connection, a review of downtime
of ATMs due to cash-outs was undertaken and it was observed that ATM operations
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-replenishment of ATMs” in the Annex. The
Scheme shall be effective from October 01, 2021.
Scheme of Penalty for non-replenishment of ATMs
Objective of the Scheme
The Scheme of Penalty for non-replenishment of ATMs has been formulated to
ensure that sufficient cash is available to public through ATMs.
THE BANK IS FINED - IF CASH NOT IN ATM
Effective Date
The Scheme shall be effective from October 01, 2021. Therefore, banks/ WLAOs
should put in place a robust system for monitoring the availability of cash in ATMs
and ensure timely replenishment to avoid cash-outs.
Condition for counting instances of cash-outs in an ATM
When the customer is not able to withdraw cash due to non-availability of cash in a
particular ATM.
Procedure
Banks shall submit system generated statement on downtime of ATMs due to non-
replenishment of cash to the Issue Department of RBI under whose jurisdiction these
ATMs are located. In case of WLAOs, the banks which are 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.
THE BANK IS FINED - IF CASH NOT IN ATM
Quantum of Penalty
Cash-out at any ATM of more than ten hours in a month will attract a flat penalty of
₹ 10,000/- per ATM. In case of White Label ATMs (WLAs), the penalty would be
charged to the bank which is meeting the cash requirement of that particular WLA.
The bank, may, at its discretion, recover the penalty from the WLA operator.
Administration of the Scheme
The Scheme of Penalty will be administered by Issue Departments of the Regional
Offices of the Bank. The Competent Authority to impose penalty will be the Officer-
in-Charge of the Issue Department of the Regional Office under whose jurisdiction
the ATMs are located. Appeal against the decision of the Competent Authority, if
required, may be made by the banks/ WLAOs to the Regional Director/Officer-in-
Charge of the Regional Office concerned, within one month from the date of
imposition of penalty. As the intention of the Scheme is to ensure replenishment of
ATMs in time, appeals would be considered only in cases of genuine reasons
beyond the control of bank/ WLAOs such as, imposition of lockdown by the State/
Administrative authorities, strike, etc.
THE BANK IS FINED - IF CASH NOT IN ATM
RBI LETTER FOR FINE ABOUT CASH IN ATM DATE: 10/10/2021 :- CLICK HERE
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