The Reserve Bank of India (RBI) on May 19 issued norms around guidelines around inter-operable card-less cash withdrawals (ICCW) at Automated Teller Machines (ATMs).
The RBI said all banks, ATM networks and White label ATM operators (WLAOs) may provide the option of ICCW at their ATMs. Further National Payments Corporation of India (NPCI) has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.
The central bank said while UPI would be used for customer authorisation in such transactions, settlement would be through the National Financial Switch (NFS)/ATM Networks. The on-us/ off-us ICCW transactions shall be processed without levy of any charges other than those prescribed under the circular on inter-change fee and customer charges.
The central bank said that withdrawal limits for ICCW transactions shall be in-line with the limits for regular on-us / off-us ATM withdrawals. All other instructions related to Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions shall continue to be applicable, RBI said.
