Review of norms for opening of onsite/off-site ATMs by Urban Co-operative Banks - ಆರ್ಬಿಐ - Reserve Bank of India
Review of norms for opening of onsite/off-site ATMs by Urban Co-operative Banks
RBI/2014-15/114 July 2, 2014 Chief Executive Officers of all Dear Sir/Madam Review of norms for opening of onsite/off-site ATMs by Urban Co-operative Banks Please refer to our circular ref: UBD (PCB) BPD Cir No.50/09.69.000/2005-06 dated April 28, 2006 in terms of which UCBs satisfying the criteria of Financially Sound and Well Managed (FSWM) banks were permitted to set up on-site ATMs without prior approval of RBI. In terms of our circular ref: UBD.CO.LS.(PCB). Cir. No.30/07.01.000/2013-14 dated October 15, 2013, prior approval of RBI under Section 23 of the B. R. Act, 1949 (AACS) is necessary for opening full-fledged branches, specialized branches (CPCs, RAPCs), satellite / mobile offices, controlling offices, extension counters and off-site ATMs. 2. It has now been decided that CBS-enabled UCBs which satisfy the FSWM criteria as mentioned at para 2 (a) to (e) of our circular UBD.CO.LS (PCB) No. 24/07.01.000/2013-14 dated October 1, 2013 may install onsite / off-site / mobile ATMs as per their need and potential in their area of operation without prior approval of RBI, subject to the conditions given below.
3. The conditions subject to which off-site / mobile ATMs can be operationalised by UCBs are given in Annex II. There is no change in facilities which can be provided through ATMs. 4. UCBs shall report to the concerned Regional Office of Reserve Bank under whose jurisdiction the Head Office of the bank is functioning immediately after operationalisation of offsite / mobile ATMs and in any case not later than 15 days, as per the format enclosed (Annex I) and obtain authorization under section 23 of the B. R. Act, 1949 (AACS). Yours faithfully, (A. K. Bera)
Conditions subject to which off-site ATMs can be operationalised by banks (i) The business transacted at the Off-site ATM shall be recorded in the books of the respective branch/ base branch / Centralised Data Centre. (ii) No person other than the security guard should be posted at such Off Site ATM centre. (iii) Bank should make adequate stand-by arrangements for meeting the cash requirements of the ATM. (iv) The bank should ensure that only properly sorted and examined notes are put into circulation through the ATM. (v) Third party advertisement on the ATM screens / Network, such as display of products of other manufacturers /dealers /vendors is not permitted. However, there is no objection to banks utilizing the ATM screens for displaying their own products |