Tag: Card-less cash

Mumbai  : The Reserve Bank of India (RBI) on Friday proposed to make card-less cash withdrawal facility available across all banks and automated teller machine (ATM) networks using unified payments interface (UPI). "At present, the facility of card-less cash withdrawal through ATMs is limited only to a few banks. It is now proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the UPI," RBI Governor Shaktikanta Das said in his first monetary policy statement for the financial year 2022-23. Under the card-less cash withdrawal facility, a customer is not required to use his/her debit or credit cards while withdrawing cash from ATMs. "In addition to enhancing the ease of transactions, the absence of the need for a physical card for such transactions would help prevent frauds such as card skimming, card cloning, etc," he said.