RBI extends deadline for implementation of cassette swap in ATMs by a year

Daily Current Affairs / RBI extends deadline for implementation of cassette swap in ATMs by a year

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Category : Business and economics Published on: April 04 2022

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The Reserve Bank of India has extended the timeline for implementation of cassette swap in all ATMs by banks by one year till March 31, 2023.
This is second extension of timeline that the central bank has given to banks.
In July 2021, RBI had advised banks to consider using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment.