CARDLESS WITHDRAWAL

The RBI has mandated using of UPI for cardless withdrawal of money across all ATMs, on April 8. The decision was taken to boost customer convenience and lessen cases of fraud. ''It is proposed to enable customer authorisation through the use of Unified Payments Interface (UPI) while settlement of such transactions would happen through the ATM networks,” stated RBI Governor.  The RBI will soon issue guidelines for the same.