Page 5 - Atms

The Ministry of Acronyms, Shlokas and Slogans

Whenever there's corona to be combatted, or banknotes to be withdrawn, this new ministry would come up with the necessary acronyms

Banks plan to shut down most branches during coronavirus lockdown: Report

India is still very much a cash society and banks have been exempted from a 21-day lockdown that began this week as they are considered an essential service

240,000 ATMs to be recalibrated, but consumers need not worry, says FIS

In case of recalibration the number of withdrawals would increase as only lower denomination notes were likely to be dispensed

Rs 500 notes to push Rs 2,000 out in mega ATM reboot: Things you must know

Biggest recalibration since demonetisation; Rs 2,000 notes to remain legal tender but to be pulled out of circulation

Soon, you will be charged even for failed transactions at Axis Bank ATMs

The proposed fee will be Rs 25 per transaction; the bank has uploaded a notice on its website listing this and three other charges coming into effect from 1 April 2020

Now, switch on/off your card for online payment, set transaction limits

Facilities can be activated only when the customer specifically requests for it

Financial inclusion in 'Maoist zone' a daunting task for bank authorities

Chhattisgarh has asked bankers to streamline financial inclusion in restive region

How vulnerable are bank ATMs?

Many customers are careless; they use overly simple and non-random PINs (such as date of birth), and do not change PINs periodically, compromising security

Transaction fees to safety: Why ATMs give customers a headache

Know your rights, follow good practices and use simple strategies to reduce charges

Cash in circulation rises, hindering Modi govt's digital economy push

Ratio of currency in circulation to GDP has risen to 11.23 per cent as of March 2019, putting question mark over demonetisation aim.

RBI tightens norms for banks, up penalties for failed ATM transactions

The financial compensation should be done suo motu by the bank, without waiting for a complaint or a claim by a customer, the RBI said

RBI asks banks to grout ATMs to wall, floor for security by September-end

As part of the security measures, all "ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks"

Access to cash from RBI doesn't improve viability of ATMs, say operators

Interchange is the rate charged by the ATM operator for every transaction

Parliament panel asks RBI to fix dysfunctional ATMs, install more machines

The panel also noted that RBI's remonetisation drive has not augmented/resolved the cash supply to ATMs in rural/semi-urban areas, forcing shutdown of many ATMs

Number of ATMs declined marginally to 200,070 in FY18: RBI report

The number of ATMs has declined marginally to 2.07 lakh in FY18 from 2.08 lakh in FY17, primarily due to branch rationalisation by a few public sector banks, the Reserve Bank said in its annual report Friday. Similarly, the number of operational on-site ATMs too came down to 1.06 lakh during the year from 1.09 lakh in FY17, while that of off-site ATMs increased to 1 lakh from 98,545. "In FY18, the number of ATMs of state-run banks declined to 1.45 lakh from 1.48 lakh in FY17," the RBI said in the 'Trends & Progress of Banking in 2017-18' report. However, private sector banks installed more ATMs taking their total number to 60,145 in FY18, up from 58,833 in the previous fiscal year, the central bank report said. The report said during the period between April 2018 and August 2018, the number of ATMs (excluding that of small finance banks and payment banks) declined further to 2.04 lakh, which it attributed to the increasing use of electronic means of payments. During .

New safety rules may close 50% of ATMs by March 2019: Industry association

Regulatory changes are making it unviable to operate ATMs, says industry body

New safety rules may force 50% ATMs in India to close: Industry association

This would severely impact millions of beneficiaries under the Pradhan Mantri Jan Dhan Yojana

ATMs go dry: PM gave our money to Nirav, says Rahul; RBI denies cash crunch

Several states are facing cash shortage despite currency flow in the economy going back to the pre-demonetisation level

Weekend, FY17 closing hit ATM cash-filling operations

SBI said the cash crunch problem was acute in Andhra Pradesh and Telangana

Hardship set to linger

Across the country, bank branches are unable to dispense the Rs 24,000 per-week withdrawal limit