UPI Based Card less ATM withdrawal:

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Taking a big step to prevent ATM fraud, Reserve Bank of India is working on providing ATM facilities without a card.

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RBI is working on a proposal to provide cardless cash withdrawal facility from ATMs of all banks in the country

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RBI Governor Shaktikanta Das said that UPI facility will be used for cardless cash withdrawal from ATMs.

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RBI's Card less ATM Withdrawal

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At present, the facility of cardless cash withdrawal from ATMs is limited to a few banks, which RBI now wants to increase.

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Reserve Bank of India proposes to provide cardless cash withdrawal facility at all banks and ATM networks using UPI.

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UPI Based Card less ATM withdrawal will also help in preventing frauds like card skimming, card cloning.

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Separate instructions will be issued soon by RBI for UPI Based Card less ATM withdrawal for NPCI and ATM network and banks.

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