Correct Answer : 1st Oct 2021
In what comes as a huge relief for the common man who is inconvenienced by the non-availability of cash in ATMs, the Reserve Bank of India (RBI) has decided to penalise banks for failure to timely replenish currency notes in such machines.
Starting October 1, 2021, cash-out at any ATM of more than 10 hours in a month will attract a flat penalty of Rs 10,000 per ATM. In the case of White Label ATMs (WLAs), the penalty would be charged to the bank which is meeting the cash requirement of that particular WLA.
The bank, may, at its discretion, recover the penalty from the WLA operator, said an RBI notification.
