Cassette-swap: Mechanism to make ATMs better will miss deadline again

Cassette-swap is a lockable mechanism that does away with open cash replenishment. The upgrade is stuck over installation cost

Nearly a year after the rollout for cassette-swaps at ATMs (automated teller machines) was set in motion, it remains largely on paper. The four-phased plan in 30 cities was to cover the entire network of 260,000-odd ATMs in the country by FY24. Another extension – it will be the fourth – may now be sought from Mint Road. The idea of cassette-swaps at ATMs was set in motion six years ago (April 2018) and the first deadline was FY21.

Compared to the personnel of cash-in-transit (CIT) firms loading cash, cassettes-swap is a lockable mechanism. Cash handling is done by CITs at