RBI permit banks to install ATMs offsite
By Ankit Sharma
Jun 16, 2009
Print    Email    RSS   

The financial regulator, the Reserve Bank of India has authorised the scheduled commercial banks to install ATM machines at their discretion at site they consider apt, without seeking its formal permissions.

Prior to this approval, the banks could install the ATM machines without the permission of the regulator only at their respective branches or extension counters.

The move is in coherence with the statement made by the bank in its annual policy for the current year-"Permits Scheduled Commercial Banks to install off-site ATMs at centres/places identified by them, without having the need to take permission from the Reserve Bank in each case," as the statement said.

Under the new directive, the banks are however required to submit the details of the off-site installation in the ‘terms of general permission' to the respective regional offices. The central bank also reserves the right to issue any directions regarding the such off-site installations, including shifting or movement of any such machine.

RBI has also asked the banks which provide cash deposit facility at the ATMs, to take necessary steps to protect the interests of both, the customers and the banks. These include security measures like password access and identification of depositor, when forged or defective notes are found.

Earlier, the regulator had asked the banks to adopt additional security measures for online debit and credit card transactions.

With increased use of the ATM machines, banks have been reconsidering branch expansion. Banks have been working towards expansion of ATM networks to earn more revenue through increased ATM usage.


(Comments Posted : 59) Post Your Comments
1. I have excellant space for atm in Kavadiguda, x road, Hyderabad - 500003.It is a four side road and opp to marriott Hotel. Just need installation of ATM Machine. call 9491379935
vishal singh (Posted: Oct 5, 2017)
2. Sir, I have Commercial space for rent or lease in ground floor, 35f't wide commercial road good location in Uttam Nagar East Market, Near: Holly Public School This is 174/sq.ft area built with marble flooring or suiatable for Bank ATM only.
Cont me. 9810264445
Harpreet Singh (Posted: Oct 4, 2016)
3. My name is vinay have a space for atm machine in shahpur jat village in south Delhi there is no machine around my house I have a space of 450 square feet
Vinay kaushik (Posted: Jun 9, 2016)
Show All Comments
 Select a product:

 Select a product:

Electronic fund transfers- making life...
Make more out of your credit card with...
Know the Reasons for Rejection of a Credit...
How to select a co-branded credit card?
HDFC Bank sets up common phone banking no.

Buy high quality Real / False driver's license, ID...
Daawat*Call giℛℒ escort In ZiRaKpUr OOOOOOOOOO...
Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive