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Now, withdrawing 10 thousand rupees or more from SBI ATM will require OTP during the day. -File photo
- Bank has decided to implement OTP based ATM withdrawal facility 24×7
- This rule of ATM cash withdrawal will be applicable across the country from 18 September 2020.
ATM fraud cases are increasing rapidly during lockdown. In view of this, the country's largest bank State Bank of India (SBI) has now decided to implement one time password i.e. OTP based ATM cash withdrawal facility 24 × 7. This facility will be applicable from September 18 at all SBI ATMs across the country.
OTP will be charged at any time of day
Now, withdrawing 10 thousand rupees or more from SBI ATM will require OTP during the day. Till now, OTP was required only after withdrawing 10 thousand rupees or more from eight o'clock in the night. The new rule was implemented by the bank from 1 January. Under this, OTP based cash withdrawal was introduced from 8 am to 8 am on withdrawal of 10 thousand rupees or more.
How will the money come out now?
Now this Friday, 18 September, if you go to the ATM to withdraw 10 thousand or more money, now you will have an OTP on the mobile registered by the bank after entering the card and putting the amount. This OTP will have to be entered with the PIN of the debit card, only then you will be able to withdraw money from SBI ATM.
Will help to stop ATM fraud
SBI MD (Retail and Digital Banking) CS Setty said that SBI has always been at the forefront in terms of technological improvement and safety. We hope the 24×7 OTP-based cache withdrawal feature will further strengthen the security level. By implementing this facility throughout the day, SBI debit card holders will be able to avoid frauds, unauthorized withdrawals, card skimming, card cloning and similar risks.
More than 22,000 branches across the country
SBI, the country's largest bank, has more than 22 thousand branches across the country. SBI has a presence in over 30 countries. More than 6.6 crore customers of SBI use mobile banking and ATM facilities.