SBI customers can withdraw cash at 4.78 lakh PoS machines

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In the wake of cash shortage faced by customers at ATMs, State Bank of India (SBI) has urged debit card holders to use any of the 4.78 lakh Point of Sale (PoS) terminals of the bank to withdraw cash.

Currently, SBI is providing cash withdrawal through PoS without any fees or charges to all bank customers.

“Debit card holders of SBI and all other banks can withdraw cash from PoS machines installed by SBI across various merchant locations…To reach out and facilitate maximum number of people looking for convenient cash withdrawal, State Bank of India, country’s largest lender is also providing facilities of cash through ‘Cash@POS’ initiative,” SBI said in a statement.

For withdrawals upto Rs2000, @TheOfficialSBI has cash@POS facility @ 4.78 lac POS machines.
Customer can use SBI & any other bank debit card to withdraw cash upto Rs2000 in Tier 3 to 6 & upto Rs1000 in Tier 1 & 2 cities per card per day presently without any charges. #CashCrunch

— Neeraj Vyas (@Neerajvyas1958) April 19, 2018

As per the RBI guidelines, a customer can withdraw Rs 1,000 in Tier 1 and Tier 2 cities whereas Rs 2,000 can be withdrawn in Tier 3 to Tier 6 cities per day per card.

At present, 4.78 lakh of the total 6.08 lakh PoS machines are enabled to dispense cash to the customers of SBI and the banks who have enabled this facility for their customers.

ATMs or the automated teller machines in over five Indian states went dry over the past few weeks due to inadequate supply of cash after a “sudden” spurt in demand for cash.

The states included Telangana, Andhra Pradesh, Karnataka, Bihar (north), Madhya Pradesh, Maharashtra and even some parts of Delhi.

SBI Chairman Rajnish Kumar has assured that the problem of cash crunch being faced by some states will be resolved by Friday as the currency is being transported to areas which are facing the shortage.