Cassette - Swaps in ATMs

RBI/2017-18/162

DCM (Plg.) No. 3641/10.25.007/2017-18

April 12, 2018

The Chairman and Managing Director/

Chief Executive Officer

All Banks

Dear Sir,

Cassette - Swaps in ATMs

As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director] to review the entire gamut of security of the treasure in transit. The recommendations of the Committee have been examined and in order to mitigate risks involved in open cash replenishment/ top-up, it is advised that banks may consider using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment.

2. The above may be implemented in a phased manner covering at least one third ATMs operated by the banks every year, such that all ATMs achieve cassette swap by March 31, 2021.

3. The banks are required to furnish a quarterly report in the enclosed format to the Issue Department of the Regional Office under whose jurisdiction their Head Office is situated, within 15 days of the close of every quarter commencing June 30, 2018 by email.

Yours faithfully,

(Aviral Jain)

General Manager

Encl: As above