From today onward there is no need to hurry in collecting cash from the ATM dispenser. Banking Regulator Reserve Bank of India (RBI) get agreed on National Payments Corporation (NPCL) of India’s proposal to disabled the ATM Retraction features from all Banks in India.
Earlier in ATM if dispensed Cash from the ATM were not collected within certain time period , it got returned to the machine and customer account get debited. There were also fraudulent claims about non-receipt of cash by customers.
Bankers are now relaxed with this norms because it was a very difficult task to tally the ATM cash with such type of transaction. Hope this new features will be helpful..
