Now people will get the facility to withdraw money from ATM without inserting a debit card. Till now only a few banks had this facility, but now it will be issued by all banks. Using this will greatly reduce the fraud cases of card clones.
New Delhi. Now people will get the facility to withdraw money from ATM without inserting a debit card. This facility will be given in all banks. Reserve Bank of India (RBI) Governor Shaktikanta Das has confirmed this. Till now, only a few banks had the facility to withdraw money without a card. This facility will be completed through UPI, in which card will not be required.
The biggest advantage of this will be that the thugs will not be able to clone the card and the cases of fraud that happen in this way will end. RBI Governor Shaktikanta Das also talked about this and said that this will make the transactions very safe. RBI Governor Shaktikanta Das said this in the meeting of the Monetary Policy Committee of the Reserve Bank of India.
Now cardless cash will be available at all ATMs
The RBI Governor said, “Currently, the facility of cardless cash withdrawal through ATMs is limited to only a few banks. It is now proposed to provide cardless cash withdrawal facility at all banks and ATM networks using UPI. “Apart from the ease of transactions, it will also have the advantage that such transactions will not require a physical card and will help prevent frauds like card skimming and card cloning,” he added.
What is this cardless cash withdrawal facility?
As the name suggests, the cardless cash withdrawal facility does not require the bank customer to use his/her debit or credit card while withdrawing cash from the ATM. This system is currently available in various banks and was introduced in the wake of the COVID-19 pandemic, so that people do not come in contact with each other or at least come in contact with each other.
Currently, customers of some more banks including SBI, ICICI Bank, Axis Bank and Bank of Baroda can withdraw cash through their phones even without their debit cards. The cardholder has to use the mobile banking app for this and request for cash withdrawal from the ATM that he does not have a debit card.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
