Banks to be fined for non-availability of cash in ATMs
The Reserve Bank of India (RBI) took a key decision keeping in mind the concerns of a common man. RBI took a key decision to impose penalties on banks for non-availability of cash in ATMs.
The move is going to give a big relief to the common men who sometimes face trouble not getting the required amount from ATMs. RBI in a circular released on Tuesday stated that if any ATM is found not keeping the amount for more than 10 hours in a month will attract a flat penalty of Rs 10,000 per ATM. It is going to be effective starting October 1, 2021