Customers may soon get the facility to withdraw money from banks and their ATMs using UPI
RBI: customers may soon get the facility to withdraw money from banks and their ATMs using UPI. That is, customers can withdraw money from ATMs without a card. RBI governor Shaktikanta Das recently said that RBI has plans to bring 'cardless' ie the facility of withdrawing money without using a card. Now users will soon be able to withdraw money from all banks and their ATMs using only UPI. They will not need a debit or credit card to withdraw money. At present, only a few banks will provide the facility of withdrawing money without a card. bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india (SBI- state bank of India), hdfc bank, ICICI, and punjab National bank (PNB) are included in this list. Right now only these banks will give such a facility. Will help prevent fraud?Shaktikanta Das had told in his last meeting that cardless transactions will make transactions easier. Also, cardless transactions will help in preventing card cloning, card theft, and many other fraud cases. Giving information about the decisions taken in the first meeting of the Monetary Policy Committee (MPC) for the current financial year, the RBI governor had said that the facility of giving cardless money through UPI will be started soon.
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What is a cardless withdrawal facility?With this process, you will not be able to withdraw money without the help of any card. There is no need for debit or credit cards to withdraw money from ATMs. How to withdraw cash with the help of UPI – here is the whole process customers will generate the request at the ATM first. - ATM will generate a QR code. - customers will scan the QR code using the UPI app and approve the request. After this, the ATM will withdraw the cash.
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