RBI issues norms on off-site ATMs

The Reserve Bank of India (RBI) has issued guidelines for setting up off-site ATMs without its permission. For this, banks will have to make adequate arrangement for meeting cash requirements of such ATMs. No person other than a security guard can be posted at such sites.

Business transacted at off-site ATMs shall be recorded in the books of the respective branch/base branch. Third-party advertisements at ATMs have been banned.

Also, banks that have been providing the facility of cash deposit at their ATMs have to put in place adequate safeguards/procedures (such as access through PIN/ password, etc) to ensure identification of persons depositing forged/defective notes. Banks will have to report to the RBI all such off-site ATMs within two weeks of their establishment.