From June 2023, banks began loading cash into ATMs through the cassette swap mode. (IE) Banking and cash management companies, which were struggling to deploy lockable cassette swap in automated ...

Banks are deploying more cash recycling machines that allow deposits and withdrawals, reducing reliance on standalone ATMs ...

To do away with the current system, the Reserve Bank of India (RBI) had asked banks to ensure that lockable cassettes are swapped at the time of cash replenishment in the ATMs. (Representational image ...

Customers will now get to smell and feel better quality notes when they withdraw from ATMs even as it cuts down on counterfeits, discrepancies in the accounting (of cash), and aligns the country’s ...

https://www.thehindubusinessline.com/money-and-banking/banks-urge-rbi-to-ease-up-on-cassette-swap-norm-in-atms/article24505464.ece Copy Staring at a huge expenditure ...

Banks are planning to seek the Finance Ministry’s intervention in reviewing guidelines on using lockable cassettes in ATM machines. This comes after the Reserve Bank of India refused to review the ...

RBI in its circular said Banks must set a Board approved internal timeline to adhere to the extended deadline and submit quarterly status reports. Boards of the banks shall monitor the progress to ...