**Summary:**
This Reserve Bank of India (RBI) circular, reference number RBI/2021-22/71 DCM (Plg) No.S3910/25.007/2021-22 dated July 12, 2021, addresses the implementation of cassette swaps in Automated Teller Machines (ATMs). It revises the timeline outlined in circular RBI/2017-18/162DCM (Plg) No.3641/10.25.007/2017-18 dated April 12, 2018, which mandated a phased implementation of lockable cassette swaps in ATMs, targeting completion by March 31, 2021.
Based on representations from the Indian Banks Association citing difficulties in meeting the original deadline, the RBI has extended the implementation timeline for cassette swaps in all ATMs to March 31, 2022.
The circular directs all Scheduled Commercial Banks (including Regional Rural Banks), Urban Cooperative Banks, State Cooperative Banks, and District Central Cooperative Banks to monitor progress on a quarterly basis, making necessary adjustments as needed. Banks are required to report the status to the RBI within seven days of the end of each quarter, commencing with the quarter ending September 2021. Reports should be submitted via email to the Chief General Manager-in-Charge, Department of Currency Management, Reserve Bank of India, Central Office, Amar Building, Fourth Floor, Sir P. M. Road, Fort, Mumbai – 400 001, at cgmincdcm@rbi.org.in. No hard copy is required. Contact information for the Department of Currency Management is phone: 022-2260 3000/34000, fax: 022-2266 2442.
Key Entities Referenced
Reserve Bank of India: The central bank of India, the issuer of this notification.
All Scheduled Commercial Banks: Refers to all commercial banks that are listed in the Second Schedule to the Reserve Bank of India Act, 1934.
Regional Rural Banks: Regional Rural Banks (RRBs) are financial institutions in India that operate at a regional level.
Urban Cooperative Banks: Financial institutions in India that operate in urban areas, providing banking services to their members.
State Cooperative Banks: Apex cooperative banks at the state level in India.
District Central Cooperative Banks: Cooperative banks operating at the district level in India.
Indian Banks Association: A representative body of banks operating in India.
Mumbai, Maharashtra: City in India where the Central Office of the Reserve Bank of India is located.
भारतीय �रज़व र् बक�
RESERVE BANK OF INDIA
www.rbi.org.in
RBI/2021-22/71
DCM (Plg.) No.S39/10.25.007/2021-22 July 12, 2021
The Chairman / Managing Director & Chief Executive Officer
All Scheduled Commercial Banks including RRBs
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks.
Madam / Dear Sir,
Cassette - Swaps in ATMs
Please refer to our circular RBI/2017-18/162/DCM (Plg.) No.3641/10.25.007/2017-18
dated April 12, 2018 on the captioned subject wherein banks were advised to consider
using lockable cassettes in their ATMs which shall be swapped at the time of cash
replenishment. The same was advised to 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.
2. In this regard, representations have been received from Indian Banks’ Association on
behalf of various banks expressing difficulties in meeting this timeline. Accordingly, it has
been decided to extend the timeline for implementation of cassette swap in all ATMs till
March 31, 2022.
3. Banks shall monitor progress and make the required course correction at the end of
every quarter, at the level of Board / ACB and report status within seven days of the end
of the quarter, starting from the quarter ended September 2021, to the Chief General
Manager-in-Charge, Department of Currency Management, Reserve Bank of India,
Central Office, Amar Building, Fourth Floor, Sir P. M. Road, Fort, Mumbai 400 001. The
said report should be sent by e-mail. No hard copy need be sent.
Yours faithfully,
(Subrata Das)
Chief General Manager-in-Charge
मु�ा �बधं िवभाग, 4था तल, अमर भवन, पी.एम. माग,र् फोटर्, मुंबई 400001
Department of Currency Management, 4th Floor, Amar Building, P.M. Road, Fort, Mumbai 400001
फोन/Phone: (022) 2260 3000 / 4000 फैक्स/Fax: (022) 2266 2442 ईमले /E-mail: cgmincdcm@rbi.org.in
िहन्दी आसान ह,ै इसका �योग बढ़ाइए I