Regulatory Alerts2011-11-04 | BPSD/DIR/CIR/01/011Added · Updated
Circular to all DMBs,IADs, CIT Companies and switches
In line with the Cashless Society objectives, a new circular has been issued to guide off-site ATM operations/deployment. Banks and Independent ATM Deployers (IADs) can acquire and deploy off-site ATMs, brand them accordingly, and ensure cash provision. They may engage IADs for deployment, maintenance, and support with agreed service charges. All off-site ATMs must have a minimum uptime of 95%, accept major cards, and display transaction fees before completion. Security measures against fraud are required, and the circular supersedes previous guidelines on ATM operations/deployment. The provisions will take effect from November 4, 2011.