NEWS & ADVICE : CREDIT CARDS
Panel advises ATMs to be enabled to accept cash too
By Ankit Sharma
Dec 6, 2011
Print    Email    RSS   

Cash acceptance facility in ATMs along with 24X7 surveillance facility are certain things which may come into practice soon following the recommendations of government-appointed committee on ATMs headed by Dr Ashok Jhunjhunwala, Professor, IIT-Madras.

The committee recommends additional functions being added to ATMs with the biggest being the facility to accept cash too. Currency ranging from Rs 50 to Rs 1000 can be deposited in ATMs. The 21 banks in which goverment holds majority stake have been selected to bring white-labelled ATMs which will have these facilities.

The committee has also suggested for currency recycling facility being incorporated in ATMs.

Increased level of surveillance is another major aspect recommended by the committee. All ATMs must bear an internal camera.

Incorporation of solar energy empowered ATMs is another feature suggested. The ATMs should thus be able to handle atleast 300 transactions per day in urban and semi urban areas and 200 in rural areas. Also they should be able to run for atleast 16 hours per day on solar power.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #5
Best airline rewards credit cards in...
Importance of reviewing your credit report
Credit card finance charges in India: A...
Carnival of Indian Personal Finance Blogs #4


in my cbil report 2 credit card bal showing one...
I want to know my credit cad status. My application...
i want see my sbi crard statement for 2011
VIEW MY HDFCBK CrCard App12042718241490N1
i want my cibil report
hdfc bank credit card app.12041215655480W1

NEWS THIS WEEK
Vijaya Bank inks a remittance agreement with Western Union May 24, 2012
Citibank exits co-branding agreement with Jet Airways May 23, 2012
Nabard asks banks to push more and more Kisan Credit Cards May 22, 2012
Electronic payments catch up, but cheques still rule May 18, 2012
Airtel and Axis Bank join hands to offer mobile banking May 17, 2012
News Archive