Bank ATMs stop sucking in cash after RBI direction

Bank ATMs stop sucking in cash after RBI direction. Reserve Bank of India (RBI) has asked all banks to immobilise the ‘cash retraction facility’.

Reserve Bank of India (RBI) has asked all banks to immobilise the ‘Cash Retraction Facility’ in which the banknotes getting sucked back by the ATM machine if not collected within few seconds.

As per Reserve Bank of India (RBI)’s guideline, the banks are communicating to their customers about the withdrawal of this facility, under which the cash goes back into the ATM machine if not collected within a stipulated time, which is generally 10-15 seconds, but varies from bank to bank.

The facility was initially implemented to avoid the cases of someone else getting the money, if the actual cardholder forgets to collect the withdrawn cash before leaving the ATM.

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