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Withdraw cash from ATMs using mobiles
After the deadline to exchange old notes has been completed on December 30th, several felt that, the cash crunch would no more irritate the public.
But much to the shock of the public, the situation is still the same. However, the withdrawal limit from the ATMs has been raised from Rs. 2000 to Rs. 4500, which could not show much impact, as most of the ATMs across the country are falling short of money.
Reserve Bank of India (RBI) now came up with one more initiative, which is to use smartphone for withdrawing cash from the ATMs. Already, America, China, Australia, Singapore and few European Countries have been implementing this procedure. The apex bank is planning to recalibrate the ATMs in such a manner, to dispense cash with mobile within the next 7-8 months.
How it works?
- Download the App of their respective banks.
- Enter the ATM card details once
- Open the App and enter the desired amount.
- Take the mobile close to the ATM, so that the QR Code could be tacked to complete the transaction.
