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RBI directs banks to grout ATMs to wall, ceiling and floors to improve security

The RBI has directed all the banks to grout the walls, ceilings and floors of their ATMs with plaster/mortar by September-end this year.

twitter-logo BusinessToday.In        Last Updated: June 15, 2019  | 17:43 IST
RBI directs banks to grout ATMs to wall, ceiling and floors to improve security
If the banks fail to comply the instructions and miss deadline then they would attract regulatory action including levy of penalty, warned the RBI.

In order to upgrade the security of cash vending machines, the Reserve Bank of India (RBI) has directed all the banks to grout the walls, ceilings and floors of their ATMs with plaster/mortar by September-end this year.

The fresh instructions, which are aimed at mitigating risks in ATM operations and enhancing security,  has exempted high secured premises such as airports.

In October 2016, the central bank had set up Committee on Currency Movement (CCM) to review the entire range of security of treasure in transit.

Earlier on February 28, this year, the CCM recommended plenty of measures to standardise the storage facilities in Currency Chests (CCs), which said, "The CCs having large vault space shall consider segregation of storage of coins inside the vault duly segregated by mesh structure / barricades without obstructing clear view and CCTV coverage."

Hence, in a notification issued on Friday June 14, the RBI said, "as part of the security measures, all ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks", the notification said.

Moreover, the RBI has also asked banks to roll-out a comprehensive e-surveillance mechanism at the ATMs to ensure timely alerts and quick response.

If the banks fail to comply the instructions and miss deadline then they would attract regulatory action including levy of penalty, warned the RBI.

(With PTI inputs)

Also read: SBI never stopped lending to NBFCs, will continue to do so, says MD Arijit Basu

Also read: RBI policy rate cuts not a shot in the arm for private investments: CMIE

(Edited by: Mansi Jaswal)

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