- The Reserve Bank of India has formed a Committee on Currency Movement (CCM) with Shri D.K. Mohanty, Executive Director as its Chairperson. After reviewing the recommendation of the committee, the RBI has directed all banks to ensure the following safety measures for ATMs.
- All ATMs shall be grouted to a structure (wall, pillar, floor, etc.) by September 30, 2019, except for ATMs installed in highly secured premises such as airports, etc. which have adequate CCTV coverage and are guarded by state / central security personnel.
- All ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks.
- Banks may also consider rolling out a comprehensive e-surveillance mechanism at the ATMs to ensure timely alerts and quick response.
Points to remember:
- OTC full form with respect to ATM security?
- All ATMs shall be grouted to a structure by which date?
- Head of the Committee on Currency Movement (CCM)?