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RBI directed all the banks to grout ATMs to a structure to enhance security

Posted on:16 Jun 2019 09:00:09
RBI directed all the banks to grout ATMs to a structure to enhance security
16 June 2019 Current Affairs: The Reserve Bank of India has asked the banks to ensure their ATMs are grouted to a wall, pillar, or floor by the end of September month, except those installed in high secured premises such as airports. The announcement comes with an aim to enhance security of the cash vending machines. 
The ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks. All banks can also roll out a comprehensive e-surveillance mechanism at the ATMs. This will ensure timely alerts and quick response.

Committee on Currency Movement (CCM):
The RBI had set up a Committee on Currency Movement (CCM) in 2016. The committee was asked to review the entire gamut of security of treasure in transit and submit reports regarding that. As per the the recommendations suggested by the panel, the Reserve Bank of India has now issued the instructions aimed at mitigating risks in ATM operations and enhancing security. 
The Reserve Bank of India has asked the banks to ensure their ATMs are grouted to a wall, pillar, or floor by the end of September month, except those installed in high secured premises such as airports. The announcement comes with an aim to enhance security of the cash vending machines. 
The ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks. All banks can also roll out a comprehensive e-surveillance mechanism at the ATMs. This will ensure timely alerts and quick response.

Committee on Currency Movement (CCM):
The RBI had set up a Committee on Currency Movement (CCM) in 2016. The committee was asked to review the entire gamut of security of treasure in transit and submit reports regarding that. As per the the recommendations suggested by the panel, the Reserve Bank of India has now issued the instructions aimed at mitigating risks in ATM operations and enhancing security. 

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