RBI to impose penalties on banks for failing to ensure cash availability at ATMs

“It has been decided that the banks and White Label ATM Operators (WLAOs) shall strengthen their systems and mechanisms to monitor availability of cash in ATMs and ensure timely replenishment to avoid cash-outs,” the RBI said on Tuesday. “Any non-compliance in this regard shall be viewed seriously and shall attract monetary penalty.”

from Personal Finance News-Wealth-Economic Times https://ift.tt/2U6ysiv