Penalty on Banks if ATMs Run Out of Cash

Current Context: The Reserve Bank of India (RBI) announced the ‘Scheme of Penalty for non-replenishment of ATMs’.

• As per the scheme, monetary penalties will be imposed on banks if ATMs/WLAs run out of cash.
• The decision by RBI was taken with a concern over the inconvenience which arises to the community of India if there is non-availability of cash in ATMs.
• The scheme will make ensure that sufficient cash is available to the public through ATMs and will also enable banks to keep the track record for the same as failure in this norms will lead to the imposition of penalty on them.
• The scheme will be effective from 1st Oct 2021.
• The RBI has directed banks to implement a robust system that will monitor the sufficient cash availability in ATMs and will ensure timely replenishment to avoid cash-outs.
• As per the scheme, cash-out at any ATM of more than ten hours in a month will impose a penalty of Rs 10,000 per ATM.
• For White Label ATMs (WLAs), the penalty would be charged to the bank which is meeting the cash requirement of that particular WLA.
• Static Part: 
• HQ of RBI: Mumbai
• Governor of RBI: Shaktikanta Das

Question: 

Q.1 From which date will the ‘Scheme of Penalty for non-replenishment of ATMs’ come into effect?
a. 1st Sep 2021
b. 1st Oct 2021
c. 1st Jan 2022
d. 1st April 2022