ATM cash replenishment to be done once every two days, not daily
मुख्य बातें
- •Plan approved to refill ATMs once every two days instead of daily
- •Aim is to cut bank operating costs and improve efficiency
- •ATMs to be refilled every 48 hours or twice a week
- •Need to strengthen cash-monitoring systems and improve customer alerts
Most ATMs in India are currently refilled with cash every single day. That routine is about to change. Banks are preparing a new plan to refill ATMs less often—once every two days instead of daily—to make operations cheaper and more efficient for themselves and more convenient for customers.
India currently has about 230,000 ATMs. Filling each one every day uses up a lot of staff time and money. To cut costs, the Reserve Bank of India (RBI) has been talking with banks and has now approved a plan to refill ATMs every 48 hours—or twice a week—instead of daily. Banks say this will lower their operating expenses without reducing the cash available to customers.
The plan does come with a few challenges. First, banks will have to strengthen the systems that keep track of how much cash is left in each ATM. Second, they will need to improve the way they tell customers when cash is running low. Third, they must set up a way to let customers know in advance when the ATM will next be refilled.
It may take a few more months before the new system is fully in place. But banks are already making the necessary preparations. If successful, the change will reduce costs for banks and make it easier for customers to find cash when they need it.