**Policy Summary: Extension of Timeline for Cassette Swaps in ATMs**
This policy update, issued by the Reserve Bank of India (RBI) on March 31, 2022, extends the deadline for full implementation of cassette swaps in all Automated Teller Machines (ATMs) to March 31, 2023. This directive modifies previous circulars RBI/2017-18/162 DCM (Plg.) No. 3641/10.25.007/2017-18 dated April 12, 2018, and RBI/2021-22/71 DCM (Plg.) No.S39/10.25.007/2021-22 dated July 12, 2021, which mandated a phased implementation of lockable cassette swaps in ATMs used for cash replenishment. The original timeline required banks to achieve full cassette swap implementation by March 31, 2021, which was later extended to March 31, 2022.
The extension has been granted in response to representations from various banks and the Indian Banks Association, citing difficulties in meeting the existing deadline. Banks are now required to establish a Board-approved internal timeline for adhering to the revised deadline and submit quarterly status reports to the RBI. Bank Boards are responsible for monitoring progress to ensure compliance. All other instructions outlined in the previous circulars remain in effect.
For further information, contact Suman Ray, Chief General Manager-in-Charge, Department of Currency Management, Reserve Bank of India, 4th Floor, Amar Building, P.M. Road, Fort, Mumbai – 400001. Phone: 022-2260 3000/2260 4000, Fax: 022-2266 2442, Email: cgmincdcm@rbi.org.in. The reference number for this policy is RBI/2021-22/190 DCM (Plg.) No.S 1117/10.25.007/2021-22.
Key Entities Referenced
Reserve Bank of India: The central bank of India, also referred to as RBI.
All Banks: Refers to all banking institutions regulated by the Reserve Bank of India.
ATMs: Automated Teller Machines, the subject of the cassette swap implementation.
Indian Banks Association: An association representing various banks in India.
Cassette Swaps: The process of swapping lockable cassettes in ATMs at the time of cash replenishment.
Suman Ray: Chief General Manager-in-Charge at the Department of Currency Management, Reserve Bank of India.
Mumbai, Maharashtra: Location of the Department of Currency Management, Reserve Bank of India.
Department of Currency Management: A department of the Reserve Bank of India
भारतीय �रज़व र् बक�
RESERVE BANK OF INDIA
www.rbi.org.in
RBI/2021-22/190
DCM (Plg.) No.S 1117/10.25.007/2021-22 March 31, 2022
The Chairman / Managing Director/
Chief Executive Officer
All Banks
Madam / Dear Sir,
Cassette - Swaps in ATMs
Please refer to the circulars RBI/2017-18/162/ DCM (Plg.) No. 3641/10.25.007/2017-18
dated April 12, 2018 and RBI/2021-22/71/ DCM (Plg.) No.S39/10.25.007/2021-22 dated
July 12, 2021 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, which was later extended to March 31, 2022.
2. In this regard, representations have been received from various banks and Indian
Banks’ Association expressing difficulties in meeting the timeline. Accordingly, it has been
decided to extend the timeline for implementation of cassette swap in all ATMs till March
31, 2023.
3. Banks shall set a Board approved internal timeline to adhere to the extended
deadline and submit quarterly status reports. Boards of the banks shall monitor the
progress to ensure compliance.
4. All other instructions contained in the circulars ibid remain unchanged.
Yours faithfully,
(Suman Ray)
Chief General Manager-in-Charge
मु�ा �बंध ि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 ईमेल/E-mail: cgmincdcm@rbi.org.in
िहन्दी आसान ह,ै इसका �योग बढ़ाइए I