In what can be said to be good news, the Reserve Bank of India decided to permit all banks to introduce cardless cash withdrawals through ATMs to check the prevailing frauds every now and then. At present, few banks in the country permitted cash withdrawal through ATMs on an an-us basis for their customers at their own ATMs. 

Announcing this during a bi-monthly monetary policy review meeting, RBI Governor Shaktikanta Das said in the near future, a card-less cash withdrawal facility available across all banks and ATM networks using the UPI. Apart from enhancing the ease of transactions, the absence of the need for a physical card for such  transactions would help prevent frauds such as card skimming and card cloning. 

So, henceforth it is proposed to enable customer authorization through the use of Unified Payments Interface (UPI) while settlement of such transactions would happen through the ATM networks, a statement on Developmental and Regulatory Policies said. Towards this end, separate instructions would be issued to NPCI, ATM networks, and banks shortly, it said.