ATMs across the country will run a much more advanced system that will bury a lot of problems concerning the ATM card. RBI has announced that the ATMs across the country will be used even without ATM cards and hence this will also bury problems related to frauds such as card skimming and cloning.
“At present, the facility of cardless cash withdrawal through ATMs is limited only to a few banks. It is now proposed to make cardless cash withdrawal facility available across all banks and ATM networks using the UPI,” RBI Governor, Shaktikanta Das, said while making the announcement.
He further added, “In addition to enhancing the ease of transactions, the absence of the need for physical cards for such transactions would help prevent frauds such as card skimming, card cloning, etc.”
This system has been available with certain banks people were hesitating to go to ATMs during the pandemic outbreak. With this facility in place, the customer will no longer have to use debit or credit cards. The system will be initiated through an application on mobile and will have to raise a request to dispense cash in case they are short of ATM card.
