NEWS & ADVICE : CREDIT CARDS
Panel advises ATMs to be enabled to accept cash too
By Ankit Sharma
Dec 6, 2011
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Cash acceptance facility in ATMs along with 24X7 surveillance facility are certain things which may come into practice soon following the recommendations of government-appointed committee on ATMs headed by Dr Ashok Jhunjhunwala, Professor, IIT-Madras.

The committee recommends additional functions being added to ATMs with the biggest being the facility to accept cash too. Currency ranging from Rs 50 to Rs 1000 can be deposited in ATMs. The 21 banks in which goverment holds majority stake have been selected to bring white-labelled ATMs which will have these facilities.

The committee has also suggested for currency recycling facility being incorporated in ATMs.

Increased level of surveillance is another major aspect recommended by the committee. All ATMs must bear an internal camera.

Incorporation of solar energy empowered ATMs is another feature suggested. The ATMs should thus be able to handle atleast 300 transactions per day in urban and semi urban areas and 200 in rural areas. Also they should be able to run for atleast 16 hours per day on solar power.


 


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