RBI's new norms could hit ATMs' working, say banks
According to the RBI’s April 6 circular, cash loading companies, which take cash around the country, are supposed to increase their net worth to Rs 1 billion within 90 days.
The Indian Banks’ Association has written to the Reserve Bank of India, seeking a relaxation of the deadline for cash logistics companies to increase their net worth to Rs 1 billion.
They have asked for relaxation to new transport and security parameters, which might push up interchange fee, a payment between banks for card-based transactions.
