Section 23 of Banking Regulation Act, 1949 (AACS) – Extending Value-Added Services through ATMs


Chaitra 03, 1938
March 23, 2016

All Primary (Urban) Co-operative Banks /
State Co-operative Banks

Dear Sir / Madam,

Section 23 of Banking Regulation Act, 1949 (AACS) – Extending Value-Added Services through ATMs

Please refer to our circular DCBR.CO.LS (PCB) Cir.No.2/07.01.000/2015-16 dated July 30, 2015 wherein the services that may be offered by Primary (Urban) Cooperative Banks at their on-site/off-site/mobile ATMs have been specified. Further, in terms of our circular DCBR.CO.RCB.No.BC.29/19.51.008/2014-15 dated April 16, 2015, State Co-operative Banks fulfilling the prescribed criteria are free to install off-site/mobile ATMs without prior approval from RBI.

2. With a view to providing operational freedom to banks, it is advised that Primary (Urban) Co-operative Banks and State Co-operative Banks are now free to offer all their products and services through the ATM channels, provided the technology permits the same and adequate checks are put in place to prevent the channel from being misused to perpetrate frauds on the banks / other genuine customers.

3. All other contents of the circulars mentioned in para 1 above remain unchanged.

Yours faithfully,

(Reeny Ajith)
General Manager-in-Charge

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