Explore Business Standard
ATMs
State Bank of India, Punjab National Bank and several other lenders on Friday said their ATMs are fully functional, well-stocked, and that digital services are operating smoothly. The announcements came against the backdrop of reports on social media that ATMs are likely to be shut in the coming days amid escalating tensions between India and Pakistan. They also said that all their digital services are operating smoothly. "All our ATMs, CDMs/ADWMs and digital services are fully operational and available for public use," India's largest bank, State Bank of India, said in a post on social media post 'X'. India's largest lender also advised its customers not to rely on unverified information. Similar messages have been posted by Bank of Baroda, Punjab and Sindh Bank, Canara Bank and Bank of India. "All our digital services too are operating smoothly, ensuring a seamless banking experience from the comfort of your home," Punjab National Bank said in a post on social media platform ..
The Reserve Bank of India on Monday asked banks to ensure that ATMs dispense Rs 100 or Rs 200 denomination notes to enhance the availability of these currency notes to the public. Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased manner. "As part of an endeavour towards enhancing public access to frequently used denominations of banknotes, it has been decided that all banks and White Label ATM Operators (WLAOs) shall ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis...," the Reserve Bank of India (RBI) said in a circular. According to the circular, by September 30, 2025, 75 per cent of all ATMs (Automated Teller Machines) shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette. By March 31, 2026, 90 per cent of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette.
The Employees' Provident Fund Organisation (EPFO) is set to undergo a major digital overhaul to enhance services for over 9 crore beneficiaries, with Version 3.0 set to launch by May or June, Union Labour and Employment Minister Mansukh Mandaviya said on Friday. In coming days, EPFO beneficiaries will be able to withdraw funds from ATMs due to faster processing of claims on the newer Version 3.0, Mandaviya said in an interview with PTI. "EPFO will soon implement Version 3.0 with the help of a robust IT platform to provide seamless and simplified services, including auto-claim settlements, digital corrections, and ATM-based fund withdrawals. The overhaul is aimed at making EPFO accessible and efficient," he said. According to Mandaviya, the new version will eliminate the need for complex and lengthy form-filling processes or physical visits for claims and corrections. Beneficiaries will be able to update their EPFO accounts and mandates using OTP verification and conveniently monitor
Union Labour Minister Mansukh Mandaviya announced on Thursday that the Employees Provident Fund Organisation (EPFO) will soon launch the "EPFO 3.0 version," which will allow subscribers to withdraw funds from ATMs, along with several other new features. Speaking after inaugurating EPFO's Office Complex of Telangana Zonal Office and Regional Office here this evening, he said the 'EPFO 3.0 version' will be equivalent to the banking system. "In the coming days, EPFO 3.0 version will come. This means EPFO will become equivalent to a bank. Like how transactions are carried out in a bank, you (EPFO subscribers) have your Universal Account Number (UAN) and you will be able to do all your work," he said. "Neither do you to have visit EPFO offices nor do you have to go to employer. It is your money and you can withdraw it as and when you want. Now you still need to go to EPFO offices. I promise you, in the coming days, you can withdraw your money from ATMs whenever you want. We are carrying
The Supreme Court on Tuesday set aside a Gauhati High Court order for round-the-clock manning of ATMs to ensure one customer entry at a time. A bench of Justices B R Gavai and K Vinod Chandran took note of the submissions of solicitor general Tushar Mehta, appearing for some banks, that it was not practical to deploy security guards round the clock at all ATMs. "In Assam, we have around 4,000 ATMs. We cannot have one security guard at all the ATMs. The worldwide recognised system is to have CCTVs," he said. Mehta said the apex court in December 2016 stayed the high court's direction, which could be made absolute. He said the petitioner banks, including the State Bank of India, had no grievance in accepting the other directions issued by the high court in December 2013 concerning security protocols for proper functioning of ATMs. The bench allowed the petition and set aside the direction issued by the high court which read, "Place security guards round the clock at all ATMs so that
Subscribers of the retirement fund body EPFO may soon be able to withdraw claim amounts from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly said that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce. She further said that claimants, beneficiaries or insured individuals will be able to access their claim amounts through ATMs. According to the report, the withdrawal will be capped at 50 per cent of the Employees' Provident Fund (EPF). A maximum of Rs 7 lakh is provided under the Employees' Deposit Linked Insurance (EDLI) scheme run by the EPFO to the heirs of deceased subscribers. Thus, the heir of the deceased EPFO subscriber may also be able to use ATMs to withdraw the settled claim. A query e-mail sent to the labour ministry did not elicit any response.