With the advent of technologies, everything is a click away and online systems have been widely accepted and appreciated to make things easier in between our daily busy schedules. However, still cash is a widely used option for many who wish to pay through cash instead of using apps or cards. ATM’s have been a relief in most places, giving people the facility to withdrew cash in need from their nearest ATM services without paying a visit to their service provider banks.
However, many places in India does have an ATM but the ATM’s in small towns and rural areas mostly remain dry for hours or amounting up to a few days. ATM’s staying dry for a long time has been quite a regular sight in a several places and have received criticism but had no effect.
To curb this situation and bring a regulation in filling up ATM’s when they go dry, RBI has taken a praiseworthy step stating banks to fill the ATM’s within 3 hours of drying out or else receive penalties in return which will be imposed region-wise. Bank have their sensor installed in ATM’s to keep a check on the money stored in the machine, but due to their laidback attitudes, these ATM’s stays dry despite banks being aware of the money running dry. RBI set up a committee to review the ATMInterchange Fee Structure, checking existing structures, patterns of costs,usages by cardholders and other costs on ATM. Bank’s will have to keep a sharp look at their regional ATM’s in recent times to avoid penalties and civilians will have a hassle-free time at ATM’s.
