Coming as a huge relief to the common man, the Reserve Bank of India (RBI) has announced banks will be fined for the non-availability of cash in ATMs. RBI has directed all banks and White Label ATM operators to ensure timely replenishment of ATMs to avoid cash-outs, otherwise, they will have to face penalties. According to the new rule, cash-out at any ATM of more than 10 hours in a month will attract a flat penalty of Rs 10,000 per ATM. This new rule will come in effect from October 1 (2021).

Coming as a huge relief to the common man, the Reserve Bank of India (RBI) has announced banks will be fined for the non-availability of cash in ATMs. RBI has directed all banks and White Label ATM operators to ensure timely replenishment of ATMs to avoid cash-outs, otherwise, they will have to face penalties. According to the new rule, cash-out at any ATM of more than 10 hours in a month will attract a flat penalty of Rs 10,000 per ATM. This new rule will come in effect from October 1 (2021).