Cardless Cash Withdrawal: Reserve bank governor shakti Kantha Das today announced that the facility of going to ATMs and withdrawing cash without an ATM card will be introduced in the ATMs of all banks across the country.

Reserve bank of india governor shakti Kantha Das today announced that the facility of going to ATM centers and withdrawing money without an ATM card will be introduced in the ATMs of all banks across the country.

Fiscal Policy Meeting

The Monetary Policy Meeting of the Reserve bank meets every 2 months and issues announcements. Following the Corona epidemic, interest rates were lowered to an all-time low in Lockdown, May 22, 2020.

The 10th Fiscal Policy Committee meeting took place today. So far the interest rate has not changed. Currently, the interest rate on short-term loans is 4% and the reverse repo is 3.5%. RBI governor shakti Kantha Das told the gathering:

Money without a card

Cardless withdrawals will soon be introduced at all banks' ATMs. Thus you can withdraw money through UPI facility.

At present, there are very few ATMs that accept cash without an ATM card. Only a few banks are operating. We plan to bring this facility to all banks' ATMs from now on. Cardless withdrawal facility is available through UPI.

Prevent fraud

This feature will greatly help to simplify the transaction, reduce the usage of the cards, prevent card fraud and prevent cloning of ATM cards.

In the changing environment of innovation, all products and services are becoming digitally magical. Therefore, a panel will be set up soon to look into customer service in all institutions under the Reserve Bank. ” He said

How to withdraw money without a card

You can withdraw money at ATM centers even without an ATM card. bank customers do not need a debit or credit card to avail this facility. Only a few banks introduced this facility during the Corona period as many people were reluctant to go to ATM centers.

In particular, SBI, Axis bank, icici bank and bank of Baroda introduced the facility. Thus without a card, you can withdraw money through the bank's mobile banking on a mobile phone. You can withdraw money from the bank's service by typing the number that comes to the customer's passport into a cell phone at ATMs.