Monetary policy review: Soon, withdraw cash from any ATM using UPI

Cardless cash withdrawal, which was offered only by a few banks, will now be made available across all banks and ATMs. It will be available via the Unified Payments Interface (UPI), which will be used for customer authorisation. This is expected to enhance ease of transactions and eliminate frauds at the same time.

On Friday, the Reserve Bank of India (RBI) said, “To encourage cardless cash withdrawal facility across all banks and ATM networks, it