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Last Updated : Apr 19, 2018 04:47 PM IST | Source: Moneycontrol.com

SBI customers can withdraw cash at 4.78 lakh PoS machines

At present, 4.78 lakh of the total 6.08 lakh PoS machines are enabled to dispense cash to bank customers free of charge.

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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.

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As per the RBI guidelines, a customer can withdraw Rs 1,000 in Tier 1 and Tier 2 cities whereas Rs 2,000 can be withdrawn in Tier 3 to Tier 6 cities per day per card.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

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First Published on Apr 19, 2018 04:41 pm
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