No ATM to be replenished with cash after 9 pm from next year

TIL Desk/Business/New Delhi/ No ATM will be replenished with cash after 9 pm in cities and 6 pm in rural areas from next year even as two armed guards will accompany crisp notes in transit as per a new directive issued by the Home Ministry.

The deadline for putting money in the ATMs located in Naxal-hit areas is 4 pm while private cash handling agencies must collect money from the banks in the first half of the day and transport notes only in armoured vehicles.

In a notification, the Home Ministry said the new Standard Operating Procedures (SoPs) would come into effect from February 8, 2019 in view of the spurt in incidents of attacks on cash vans, cash vaults, ATM frauds and other internal frauds leading to increased sense of insecurity.

There are over 8,000 privately owned cash vans plying across the country, operated by non-bank private agencies, and they handle over Rs 15,000 crore daily on behalf of banks. Some times, the private agencies keep currency overnight at their cash vaults.

“No cash loading of the ATMs or cash transportation activities shall be done after 9 pm in urban areas, after 6 pm in rural areas and before 9 am or after 4 pm in the districts notified by the central government as Left Wing Extremism affected areas,” the notification said.