Nation Current Affairs 29 Jan 2017 Telangana: Note ban ...

Telangana: Note ban hits ATM security

DECCAN CHRONICLE.
Published Jan 29, 2017, 12:50 am IST
Updated Jan 29, 2017, 1:42 am IST
Demonetisation has had its effect on ATM security and maintenance.
Demonetisation has had its effect on ATM security and maintenance.
 Demonetisation has had its effect on ATM security and maintenance.

Hyderabad: Demonetisation has had its effect on ATM security and maintenance. A manager from a city-based bank said the number of customers withdrawing cash from ATMs had seen a decrease. “Because of this, banks have temporarily suspended transactions in some ATMs and withdrawn guards,” he said. A banking official said an ATM has to have a minimum of 70 transactions, or bites’ a day. This is possible in urban areas, but it is difficult in rural areas. “ After the switch to cashless transactions came and less availability of cash, ATMs are seeing fewer than half the required number of bites,” he said.

“After demonetisation, banks have started encouraging cashless transactions and ewallets while started ignoring ATM safety,” said Mr B.S. Rambabu, All India Bank Employees Association general secretary. The RBI says an ATM should have a guard holding a licensed weapon round the clock. Each guard should be paid Rs 10,000 a month as per the minimum wages Act. Banks appoint an security agency to guard ATMs. But these agencies were found to paying the guards poorly. Two major banks have withdrawn guards at ATMs.

 

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Location: India, Telangana, Hyderabad




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