Where digitization has become a dealer for the benefit of the people, then its disadvantages are also not less. Cases of online fraud keep coming to the fore day by day, along with this, the general public has to suffer due to incidents like card cloning at ATMs. Taking these things into consideration, now the Reserve Bank of India has made a big announcement. Under this, a cardless cash withdrawal facility will now be available at every bank's ATM.
RBI governor announced
Governor Shaktikanta Das made this big announcement while keeping the results of RBI's monetary policy meeting. He said that RBI is committed to checking the increasing cases of digital fraud. To prevent these cases, now cardless cash withdrawal facilities will be provided in all the banks in the country. It is worth noting that under this facility, you will no longer need a debit card to withdraw money from ATMs.
Withdrawals can be done through UPI
Under this facility, now with the help of UPI, money can be withdrawn from any bank's ATM without using a debit card. Let us inform here that some selected banks are already providing this cardless facility to their customers. But, now after the announcement of Governor Dar, all banks will have to provide this facility at their ATMs. Through this facility, you have to go to the ATM of the same bank whose card you have with you.
The identity of account holders will be certified
It has been informed by RBI that it has been proposed to provide a card-less cash withdrawal facility in all banks and their entire ATM networks/operators. Through this facility, when a person withdraws money from an ATM, the identity of that account holder will be authenticated through the use of the Unified Payments Interface (UPI). In this way, the cases of fraud will be fewer.
Fraud cases on the rise
It is worth noting that the cases of fraud with people withdrawing money through ATMs are continuously increasing. According to the central bank RBI, withdrawal of money without a card will help in preventing frauds like skimming, card cloning, and device tampering. This is the main reason why the central bank is going to increase the cardless cash withdrawal facility.
Also Read: Paytm CEO assures Firm will achieve EBITDA breakeven in six quarters, shares rise 4 percent
Health officials in India are keeping an eye on reports of a rise in COVID-19 cases in Singapore
World champion Indian team will play the third T20 on Tuesday to maintain its dominance over Engl
Maharashtra's political crisis is deepening. The Uddhav government seems to be badly trapped. Mea
The Supreme Court is likely to pronounce its verdict today on the interim bail granted to Congres
India won the T20 World Cup match between India and Pakistan at Nassau County Stadium in New York
The Russia-Ukraine war has completed one year today. On 24 February 2022, Russia attacked Ukraine
After losing the IPL match against Lucknow Supergiants by 12 runs in IPL 2025, Mumbai Indians cap
Clashes broke out between police and supporters of current President Jair Bolsonaro in Brazil, La
Apple is going to introduce the iPhone 15 Series to its users today. With this series, four new i
Migrant workers in Kashmir are again the target of terrorists. This is the second terrorist attac
