RBI proposes to make card-less cash withdrawal facility available across all banks, ATM networks using UPI

While announcing the monetary policy on Friday, the Reserve Bank of India (RBI) Governor Shaktikanta Das said RBI has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI). RBI Governor said the absence of need for a card to initiate cash withdrawal transactions would help in containing frauds like card skimming, card cloning, etc. However, Governor Shaktikanta Das clarified credit & debit cards will be ...