The switch to digital payments accelerated during the Covid-19 pandemic and the trend is likely to stay as consumers embrace the concept of cashless societies
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SC Directs RBI To Frame New Bank Locker Regulations In Six Months
The Supreme Court held that banks cannot wash off their hands towards their customers for the operation of lockers. PTI Outlook Web Bureau 2021-02-20T08:29:21+05:30 SC Directs RBI To Frame New Bank Locker Regulations In Six Months outlookindia.com 2021-02-20T08:32:40+05:30
The Supreme Court of India on Friday directed the Reserve Bank of India (RBI) to lay down regulations within six months mandating the steps to be taken by banks with respect to locker facility management.
It held that banks cannot wash off their hands towards their customers for the operation of lockers.
Updated Feb 09, 2021 | 16:05 IST
Enabled through Masterpass and AGS QRCash, Mastercard cardholders can now withdraw cash from ATMs by just scanning a QR code using a smartphone. Now, withdraw money without touching ATM in India. (Representational image) | Photo Credit: BCCL
New Delhi: As less contact becoming the norm in the wake of the Covid-19 pandemic, banks have deployed contactless ATMs. However, it was not completely contactless. Mastercard has partnered with AGS Transact Technologies to provide a pan India ‘contactless’ cash withdrawal experience at ATMs.
Mastercard cardholders will need to scan the quick response code (QR) on the ATM screen using the bank s mobile application. Enter the amount and PIN in the app, and the ATM will dispense the amount. AGS Transact Technologies will enable this ‘contactless’ QR-based cash withdrawals on all ATMs in its network in a phase-wise manner.