Gurpurub Offer - GURPURUB24

Join Here

RBI asks banks to grout their ATMs to a structure by September end

Published on June 16, 2019
The Reserve Bank of India has asked the banks to ensure their ATMs are grouted to a wall, pillar, or floor by the end of September month, except those installed in high secured premises such as airports.
RBI asks banks to grout their ATMs to a structure by September end

Details:

  • The announcement comes with an aim to enhance security of the cash vending machines.
  • The ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks.
  • All banks can also roll out a comprehensive e-surveillance mechanism at the ATMs.
  • This will ensure timely alerts and quick response.

About the Committee on Currency Movement (CCM):

  • The RBI had set up a Committee on Currency Movement (CCM) in 2016.
  • The committee was asked to review the entire gamut of security of treasure in transit and submit reports regarding that.
  • As per the recommendations suggested by the panel, the Reserve Bank of India has now issued the instructions aimed at mitigating risks in ATM operations and enhancing security.

Question:

Q. Who has asked the banks to ensure their ATMs are grouted to a wall, pillar, or floor by the end of September month, except those installed in high secured premises such as airports?
a. Banking Commission of India (BCI)
b. The Reserve Bank of India (RBI)
c. Ministry of Finance (MoF)
d. Planning Commission of India (PCI)
ebook store

About Me

Ramandeep Singh

Ramandeep Singh - Educator

I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu