RBI tells banks, grout ATMs to wall, pillar, floor by September-end; here’s the reason – The Financial Express

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Published: June 15, 2019 4:44:31 PM

ATM transactions fee likely to changesATM transactions fee likely to changesWith an aim to enhance security, the Reserve Bank of India (RBI) has asked banks to make sure that their Automated Teller Machines (ATM) are grouted to a wall pillar, or floor by the end of September 2019. (Representational Image)

With an aim to enhance security, the Reserve Bank of India (RBI) has asked banks to make sure that their Automated Teller Machines (ATM) are grouted to a wall pillar, or floor by the end of September 2019. However, the ATMs installed in premises with high security including airports need not to do such so as to enhance the security of the cash vending machines, the news agency PTI reported central bank as saying.  A Committee on Currency Movement (CCM) was constituted in 2016 by the central bank to review the entire gamut of security of treasure in transit. The RBI has issued these instructions to the banks to mitigate risks in ATMs based on the recommendations given by the panel.

“ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks”, PTI reported the RBI as saying. “All ATMs shall be grouted to a structure (wall, pillar, floor, etc.) by September 30, 2019, except for ATMs installed in highly secured premises such as airports, etc. which have adequate CCTV coverage and are guarded by state/central security personnel”, it added.

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The lenders have also been asked by the central bank to come out with a comprehensive e-surveillance mechanism at the ATMs for timely alerts and quick response, it said.

Recently, the central bank also removed charges for payments through NEFT and RTGS and asked banks to pass benefits to customers. It has also set up a committee to examine the charges and fees levied for using the ATM. The panel has been asked to submit a report within two months from the date of its first meeting, the central bank had said in a statement.

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