Section 23 of the Banking Regulation Act, 1949 - Installation of off-site Cash Deposit Machines (CDMs) / Bunch Note Acceptor Machines (BNAMs) - ആർബിഐ - Reserve Bank of India
Section 23 of the Banking Regulation Act, 1949 - Installation of off-site Cash Deposit Machines (CDMs) / Bunch Note Acceptor Machines (BNAMs)
RBI/2014-15/438 February 2, 2015 All Scheduled Commercial Banks (including RRBs) Dear Sir/Madam, Section 23 of the Banking Regulation Act, 1949 – Installation of off-site Cash Deposit Machines (CDMs) / Bunch Note Acceptor Machines (BNAMs) Please refer to circular DBOD.No.BL.BC.137/22.01.001/2008-09 dated June 12, 2009 wherein all SCBs have been permitted to install off-site ATMs at centers / places identified by them without having the need to take permission from the Reserve Bank in each case. RRBs were also advised vide paragraph 7.2 of Master Circular RPCD.CO.RRB.No.BL.BC.4/03.05.90/2014-15 dated July 1, 2014 on Branch Licensing that they need not obtain prior permission of RBI for setting up off-site ATMs. 2. We have been receiving references from banks seeking permission for installation of Cash Deposit Machines/ Bunch Note Acceptor Machines. The issue has been examined and it is advised that Scheduled Commercial Banks (including RRBs) are permitted to install Cash Deposit Machines / Bunch Note Acceptor Machines at centres / places identified by them without having the need to take permission from Reserve Bank in each case, subject to following conditions:
3. The banks (including RRBs) should report full details of opening such off-site CDMs / BNAMs (that are not installed in existing branch premises / ATM rooms) to the Regional Office of concerned DBS or DBR, CO (in respect of CDMs / BNAMs installed in Maharashtra and Goa) immediately after installation, and in any case not later than two weeks after making the machines active / live. Yours faithfully, (Lily Vadera) |