All will be able to withdraw money at ATMs without a card: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that the RBI has proposed to provide cardless cash withdrawal facility at all ATMs of all banks in India. The RBI governor was announcing the decisions taken in the three-day Monetary Policy Committee meeting. Das said this facility is proposed to be made available through Unified Payments Interface or UPI.

At present, the facility of cardless cash withdrawal through ATMs is limited to few banks only. It is now proposed to provide cardless cash withdrawal facility at all banks and ATM networks using UPI. The RBI governor said, for ease of transactions and no physical card is required for such transactions, it will help in preventing frauds like card skimming, card cloning etc. Shaktikanta Das also announced that RBI will review customer service standards in regulated entities.

For cardless cash withdrawal facility, the bank customer will not have to use his/her debit or credit card while withdrawing cash from ATM. This system is currently available in various banks and was introduced in view of the COVID-19 pandemic when many people did not want to go to ATMs.