If you want to withdraw money from ATM then this news is for you. Now you can withdraw money even without ATM card. of Reserve Bank of India (RBI) Governor Shaktikanta Das announced this. Till now this facility was available only in few banks.
Reserve Bank of India (RBI) Governor Shaktikanta Das said that all banks will now be able to withdraw money from ATMs without a debit card. Till now, only a few banks had the facility to withdraw money from the card without an ATM. He said that money can be withdrawn from ATMs through UPI.
According to RBI Governor Shaktikanta Das, this move will also reduce frauds due to cloning of cards. Let us tell you that the Governor of Reserve Bank of India (RBI) Shaktikanta Das announced the monetary policy on Friday. It is noteworthy that the MPC has not made any change in the policy rates. The repo rate remains unchanged at 4 per cent. This is the 11th time in a row that the central bank has not changed interest rates. Earlier, the Reserve Bank of India had last revised the repo rate on May 22, 2020.
Announcing the results of the Monetary Policy Committee (MPC) meeting, Reserve Bank Governor Shaktikanta Das said the central bank will revise its soft stance to keep inflation under check while maintaining economic growth. Repo rate is the rate at which the Reserve Bank lends to commercial banks to meet their immediate needs. Under the reverse repo rate, banks get interest on depositing their money in the Reserve Bank. MPC has cut its growth forecast for the current fiscal to 7.2 per cent. In the February monetary review meeting, the MPC had projected economic growth at 7.8 per cent.