Important news for SBI customers: The rule of withdrawing cash from ATMs will change from September 18, know what you have to do to withdraw money now?
State Bank of India (SBI) is going to launch a digital platform for restructuring of all its retail loans. According to a report, the portal will be able to apply for loan restructuring. It will also look at eligibility for restructuring. The portal is expected to launch from September 24.
Cases of ATM fraud during lockdown are increasing rapidly. Following this, the country's largest bank - State Bank of India (SBI) has decided to implement 24x7 one time password i.e. OTP based ATM cash withdrawal facility. The facility will be applicable at SBI ATMs across the country from September 18.
How can money be withdrawn now?
Now from Friday, September 18, if you go to an ATM to withdraw Rs 10,000 or more, you will be sent an OTP from the bank to a registered mobile after entering the card and amount. This OTP will have to be entered with the debit card PIN, then you will be able to withdraw money from the ATM.
OTP will be required to withdraw money even during the day
Now OTP will be required even during the day to withdraw more than Rs 10,000 from SBI ATMs. Until now, OTP was required only for withdrawals of Rs 10,000 or more from 8 pm to 8 am. The bank had implemented the new rule from January 1. Under this, OTP based cash withdrawal will be applied from 8 pm to 8 am on withdrawals of Rs 10,000 or more.gital Banking), SBI, said that SBI is already at the forefront in terms of technical improvements and safety. I hope the 24x7 OTP based cache withdrawal feature strengthens the security level. Implementing this facility throughout the day will help SBI debit cardholders to avoid risks like fraud, card skimming, card cloning.
More than 22,000 branches across the country
SBI, the country's largest bank, has more than 22,000 branches across the country. SBI is also present in more than 30 countries. More than 66 million SBI customers use mobile banking and ATMs.