Contemplating the inconvenience caused to people with ATMs running out of cash in case of bank strikes or other emergency situations, the Reserve Bank of India has decided to allow banks to take cash from it and replenish their ATMs in such cases.
The apex bank made the announcement through a notification. In case of any natural calamity in the region or the entire nation, the following process of pumping ATMs with cash from RBI will be followed.
However, in such situations, withdrawal per transaction will have an upper limit of Rs 10 crore, said RBI.
Banks can also make use of this facility during cases of natural calamities for their own only once in one day.
Banks also have to sign an agreement in this regard with their outsourcing agency and give standing instruction to RBI in writing that their currency accounts be debited for cash given out to the outsourcing agency.