RBI New Rule: Customers can withdraw money from any ATM without card

RBI New Rule: The Reserve Bank on Thursday issued a rule for withdrawing money from any ATM without a card. UPI integration instructed to National Payments Corporation of India (NPCI) for this facility. On April 8, RBI announced that it will bring this facility soon. Zee business Ekta Suri's report.

According to the new rule, people can now withdraw money from any ATM in the country without a card. Apart from that, the bank will provide facilities to any customer, no matter which bank the customer belongs to.

Suri further said that in the new facility, the same fee will be charged as an ATM card. No additional charges were added. Apart from that, the withdrawal limit without the card will also remain the same as the withdrawal limit with the card. Adding to this, she said, customer interest rules will also be the same as ATM one.

Currently, the bin card withdrawal facility is limited to its customers. The purpose of RBI is that banks should give this facility to other's customers as well.

What are the benefits of this facility to the customers?
With this new rule, the card will not always be needed for cash withdrawals. Apart from this, card cloning, card skimming, and other bank frauds will be reduced.