RBI further extends the timeline for implementation of cassette swap in all ATMs
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- By Chetan Kulasri
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- Last Updated on 2 April, 2022
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Circular no. RBI/2021-22/190 DCM (Plg.) No.S 1117/10.25.007/2021-22, Dated: 31.03.022
The RBI has decided to extend the timeline for implementation of cassette swap in all ATMs till March 31, 2023. Earlier, the same was advised to be implemented in a phased manner covering at least one-third of ATMs operated by the banks every year, which was extended to March 31, 2022. RBI directed banks to set a Board approved internal timeline to adhere to the extended deadline and submit quarterly status reports. Boards of the banks shall monitor the progress to ensure compliance. Cassette Swap is lockable cassettes that are swapped at the time of cash replenishment in the ATMs (Automated Teller Machines).
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