RBI Asks Banks, ATM Networks To Provide Card-less Cash Withdrawal through ATMs
Moneylife Digital Team 19 May 2022
As mentioned in its statement on the development and regulatory policies, the Reserve Bank of India (RBI) says, all banks, automated teller machine (ATM) networks and white label ATM operators (WLAOs) may provide an option to a customer for intero-perable card-less cash withdrawal (ICCW) at ATMs. 
In a release, the central bank says, "National Payments Corporation of India (NPCI) has been advised to facilitate unified payments interface (UPI) integration with all banks and ATM networks. While UPI would be used for customer authorisation in such transactions, the settlement would be through the national financial switch (NFS) and ATM networks." 
"The on-us / off-us ICCW transactions would be processed without levy of any charges other than those prescribed under the circular on interchange fee and customer charges. Withdrawal limits for ICCW transactions will be in-line with the limits for regular on-us / off-us ATM withdrawals," RBI says.  
Last month, in its statement on the development and regulatory policies, RBI mentioned issuing separate instructions to allow ICCW at ATMs. 
According to the central bank, card-less cash withdrawal through ATMs is a permitted mode of transaction offered by a few banks in the country on an on-us basis for their customers at their own ATMs. 
"The absence of need for a card to initiate cash withdrawal transactions would help in containing frauds like skimming, card cloning, and device tampering. To encourage card-less cash withdrawal facility across all banks and all ATM networks or operators, it is proposed to enable customer authorisation through the use of UPI while settlement of such transactions would happen through the ATM networks," RBI had said.  
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