**Summary:**
This policy directive, RBI/2022-23/54 CO.DPSS.POLC.No.S2270/21.00.022/2022-23, issued by the Reserve Bank of India (RBI) on May 19, 2022, mandates the implementation of Interoperable Cardless Cash Withdrawal (ICCW) functionality at all ATMs operated by Scheduled Commercial Banks (including RRBs), Urban Cooperative Banks, State Cooperative Banks, District Central Cooperative Banks, Payment Banks, Small Finance Banks, and White Label ATM Operators (WLAOs). The National Payments Corporation of India (NPCI) has been instructed to facilitate Unified Payments Interface (UPI) integration for all banks and ATM networks. UPI will be used for customer authorization, while settlement will occur through the National Financial Switch (NFS) ATM network. ICCW transactions are to be processed without additional charges beyond those already prescribed for Interchange Fee and Customer Charges. Withdrawal limits will align with existing limits for regular "on-us" ATM withdrawals. Existing instructions regarding Turn Around Time (TAT) and customer compensation for failed transactions remain applicable. This directive is issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007). Contact P. Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, Central Office, Reserve Bank of India, 14th Floor, Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai – 400001. Phone: 91 22 2264 4995; Fax: 91 22 2269 1557; Email: cgmdpsscorbi.org.in.
Key Entities Referenced
Reserve Bank of India RBI: The central bank of India, responsible for regulating the banking system and monetary policy.
National Payments Corporation of India NPCI: An organization in India that facilitates various retail payments systems.
Unified Payments Interface UPI: An instant real-time payment system developed by National Payments Corporation of India (NPCI).
Interoperable Cardless Cash Withdrawal ICCW: A system allowing cash withdrawals from ATMs without using a physical card.
ATM: Automated Teller Machine
Payment and Settlement Systems Act, 2007: An Act of the Indian Parliament that provides for the regulation and supervision of payment systems in India.
Mumbai, Maharashtra: A city in India, location of the Central Office of the Department of Payment and Settlement Systems, RBI.
National Financial Switch NFS: The largest network of shared automated teller machines (ATMs) in India
RBI/2022-23/54
CO.DPSS.POLC.No.S-227/02-10-002/2022-23 May 19, 2022
The Chairman and Managing Director / Chief Executive Officer
Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Payment Banks / Small Finance Banks /
National Payments Corporation of India (NPCI) /
ATM Networks / White Label ATM Operators (WLAOs)
Madam / Dear Sir,
Interoperable Card-less Cash Withdrawal (ICCW) at ATMs
Please refer to paragraph 7 of Statement on Development and Regulatory Policies dated April
08, 2022, wherein the Reserve Bank of India (RBI) had announced introduction of ICCW.
2. All banks, ATM networks and WLAOs may provide the option of ICCW at their ATMs. NPCI
has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and
ATM networks. While UPI would be used for customer authorisation in such transactions,
settlement would be through the National Financial Switch (NFS) / ATM networks. The on-us
/ off-us ICCW transactions shall be processed without levy of any charges other than those
prescribed under the circular on Interchange Fee and Customer Charges.
3. Withdrawal limits for ICCW transactions shall be in-line with the limits for regular on-us / off-
us ATM withdrawals. All other instructions related to Harmonisation of Turn Around Time
(TAT) and customer compensation for failed transactions shall continue to be applicable.
4. This directive is issued under Section 10(2) read with Section 18 of the Payment and
Settlement Systems Act, 2007 (Act 51 of 2007).
Yours faithfully,
(P. Vasudevan)
Chief General Manager
भुगतान और िनपटान �णाली िवभाग, क��ीयकायार्लय, 14वीमंिजल, क��ीयकायार्लयभवन,शहीदभगत�संहमाग,र् फोटर्, मम्ुबई - 400001
फोनTel: (91-22) 2264 4995; फैक्स Fax: (91-22) 22691557; ईमेल-e-mail : cgmdpssco@rbi.org.in
Department of Payment and Settlement Systems, Central Office, 14th Floor, Central Office Building, ShahidBhagat Singh Road, Fort, Mumbai -
400001
�हदं ी आसान ह,ै इसका �योग बढ़ाइए