The central bank, which expected the upgrades to be done in a phased manner, is asking banks for updates on the progress.
Some of the relief measures announced for bank customers earlier will now be slowly rolled back
ATMs set up and operated by non-banking companies are referred to as white-label ATMs
Curiously, digital payment transactions fell to 2.36 billion in April, compared to 3 billion in March
As many as 14 banks already provide the service, and NPCI estimates that around 30,000 ATMs could be brought live without significant hardware upgrades
Let's take a look at the major changes in banking regulations
RBI has also decided to allow depositors to withdraw cash from the bank's own ATMs within the relaxed limit of Rs 50,000.
Customers, especially senior citizens, must take several precautions while taking out cash from their bank accounts
Tamil Nadu came in second, with losses worth Rs 3.63 crore for the same period and Delhi recorded 179 cases which cost the national capital Rs 2.9 crore
Some fear this could lead to more visits to bank branches or hoarding of cash at home as ATMs are frequently used by depositors
The IBA could meet the unions on June 12 to restart wage negotiations. Bank unions are demand a 15% percent as opposed to the meagre 2% offered to them.
In just 18 months, demonetisation-like nightmare once again haunted Indians in almost 8 states as it witnessed major cash crunch at a large number of ATMs
Listen in to this podcast to know the current situation
The cash crunch also proved that the push for digitisation in banking and payments is not going as planned, since the demand for cash is clearly rising.
Finance Minister Arun Jaitley said that there is more than adequate currency in circulation
Earlier this week, about 40 people who used a Kotak Mahindra Bank ATM in Mulund (East), lost a total of around Rs 14.80 lakh fraudulently withdrawn from their bank accounts in three days from Sunday to Monday.
The bank has now decided to install electronic surveillance systems at all its branches and ATMs.
Penalty was for non-compliance with RBI directions on Income Recognition Asset Classification (IRAC) norms and delayed reporting of information security incident involving ATMs of the bank
RBI initiated a few other measures to improve policy interest rate transmission, on banking regulation and supervision and measures to improve financial and securities markets.
Design, texture, size, thickness and supply or availability of the new Rs 200 notes will decide the required recalibration at ATMs as it can be a massive exercise which was already done recently post demonetisation across about 2 lakh ATMs.
The staff count remained flat from the March quarter at around 84,000 employees. This is the third straight quarter when it has not seen a surge in hiring.
The facility will offer multiple eligible loan amount options up to Rs 15 lakh for a fixed tenure of 60 months based on pre-checked CIBIL scores
World's first ATM celebrated its 50th birthday on June 27.
Growth rate for NCR Corp., which has a 49 percent market share in India with over 1.06 lakh ATMs, fell from 15-16 percent to about 8.9 percent.
Banks are taking efforts to support climate saving green initiatives such as solar-powered ATMs, paperless drives, green bonds, using efficient technologies, etc. to mitigate the risks around climate change.