RBI takes steps to prevent ATM misuse
By TIOL News Service
NEW DELHI, JULY 09, 2019: THE Union Minister of State for Finance & Corporate Affairs, Mr Anurag Singh Thakur, today in Parliament drew attention to the host of measures being taken by the Reserve Bank of India to ensure the safety of cash vending machines of various banks. In this regard, he stated that the RBI had directed all the banks in the country to take steps for ensuring safety of the cash vending machines of their banks. He also stated that the central bank issued instruction to all banks so as to mitigate risks involved in open cash replenishment/ top-up in ATMs. He drew attention to RBI's Circular dated April 12, 2018 regarding usage of lockable cassettes in the ATMs of banks, which shall be swapped at the time of cash replenishment.
RBI has informed that the number of instances of burglary, dacoity, robbery and theft in ATMs, as reported by banks and financial institutions to RBI, were 303 in 2017-18 and 515 in 2018-19. The amount involved was Rs 11.22 crores and Rs 25.47 crores respectively. In order to mitigate risks in ATM operations and enhance their security, the following instructions were issued by RBI to all banks vide RBI's Circular dated June 14, 2019 -
(i) All ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks.
(ii) All ATMs shall be grouted to a structure (wall, pillar, floor), except for ATMs installed in highly secured premises such as airports, which have adequate CCTV coverage and are guarded by state / central security personnel.
(iii) Banks to consider rolling out a comprehensive e-surveillance mechanism at the ATMs to ensure timely alerts and quick response.
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