After these changes, common people will have to follow some rules regarding their transactions and services. Many big changes are going to be implemented after two days i.e. from 1 May 2025. These changes will directly affect the pocket and everyday facilities of the common man. Therefore, it is important that you know about these new rules in advance so that there is no problem later.

1. Withdrawing money from ATM will be expensive

From May 1, you will have to pay more money for withdrawing cash from ATM after the free limit ends. Now you will have to pay Rs 19 for every additional transaction, whereas currently it costs Rs 17. Even for checking the balance, you will have to pay Rs 7 instead of Rs 6. This means that if you use ATM frequently, then the burden on your pocket will increase a little more.

2. Big changes in railway ticket booking too

Railways have also changed the rules for ticket booking. From May 1, travel on waiting tickets will not be allowed in sleeper and AC coaches. One will be able to travel only on waiting tickets in general coaches. Also, the period for advance ticket booking has been reduced from 120 days to 60 days. Fares and refund charges may also increase, which may make travel expensive.

3. Merger of local rural banks in 11 states

One State, One RRB scheme will be implemented in 11 states of the country. Now in every state, all the regional rural banks will be combined to form a big bank. This will improve banking services and provide more convenience to customers. This change will be implemented in Andhra Pradesh, Uttar Pradesh, West Bengal, Bihar, Gujarat, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha and Rajasthan.

4. Can gas cylinder prices change?

The price of gas cylinders is reviewed on the first of every month. LPG prices may increase or decrease on 1 May as well. If the price increases, the kitchen budget may get affected. However, the government has increased the price of all cylinders by Rs 50 in April.

5. Changes in the rules of FD and savings account

There may be further changes in the interest rates of fixed deposits (FD) and savings accounts. After RBI reduced the repo rate twice, most banks have reduced the interest rates on savings accounts and FDs. This may be seen in the future as well.

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What is the facility

Cash withdrawal is a facility in ATMs where if the customer does not withdraw cash from the cash tray within the stipulated time, the machine withdraws the cash. Earlier this facility was misused where fraudsters would withdraw partial amount but the machine log would record the withdrawal of the full amount. This was causing huge losses to the banks. Due to this, RBI had discontinued this facility in the year 2012.

A new way of cheating

However, after this the fraudsters have found a new way to commit fraud at the ATM booth. They put a fake cover in front of the cash tray of the ATM and close it, due to which the cash coming out of the machine gets stuck and is not visible to the customer. He thinks that the transaction has failed and he goes away. After this the fraudsters reach there and remove the fake cover and withdraw the cash.

To deal with this, RBI has instructed banks to implement cash withdrawal system with greater technical security.

The facility will be implemented here first

Banks have been instructed to re-activate this facility in those ATMs where the possibility of this type of fraud is high. For this, banks have also been asked to upgrade their ATM machines to implement this technology.

Customers’ money will be safe

This technique will be especially useful in cases where customers forget to withdraw money by mistake or are unable to withdraw money due to some reason. Also, if any fraudster tries to take money of another customer, this technique will help in stopping him as well.

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This is the discussion everywhere from the road to the Parliament. For the last few years, the Rs 2000 note has gradually disappeared from the market and ATMs. However, 2000 rupee notes are still seen in big cash deals. But, it is far from the reach and pocket of the common man. What is the matter after all? Has the government prohibited putting 2000 rupee notes in ATMs or has any instruction been given to the banks by the RBI? Why 2000 rupee note is missing from ATM? This has been revealed in the annual report of RBI. At the same time, the Finance Minister has openly put forth its complete truth in the Parliament.

The issue of Rs 2000 raised in the Lok Sabha

In fact, instead of Rs 2,000, more Rs 500 and Rs 200 notes are being dispensed from ATMs of banks. In such a situation, it is believed that there is a preparation to remove the 2,000 note gradually. It has been claimed in many reports that SBI has instructed to remove only the cassettes for keeping Rs 2000 notes from all its ATMs. However, there was no confirmation of this news. Now the same issue has been raised in the Parliament as well. In the Lok Sabha, MP Santosh Kumar asked four questions to the Finance Minister. These four questions were on note ban and 2000 rupee note issued after that.

MP Santosh Kumar asked a total of 5 questions to the Finance Minister

1- Rs 500 and Rs 2000 notes worth about Rs 9.21 lakh crore issued after demonetisation have gone out of circulation, is there any data on this?
2- If yes, then the government should clarify why this happened and for what reason?
3- Have currency notes been converted into black money again? If yes, then the government should give its clarification on this?
4- Has RBI imposed any restriction on banks to issue Rs 2000 notes from ATMs? If yes, then its information should be given.
5- From which date RBI has stopped printing of Rs 2000 currency notes?

Finance minister told the whole truth

Finance Minister Nirmala Sitharaman has also given a written reply to this. In response to the first three questions, he said that no such information or data exists. According to the annual report of the Reserve Bank of India (RBI), the total value of ₹500 and ₹2000 banknotes at the end of March 2017 and at the end of March 2022 was ₹9.512 lakh crore and ₹27.057 lakh crore.

No instructions given to banks

In response to the fourth question, the Finance Minister said – No instructions have been given to banks not to fill ₹ 2000 notes in Automated Teller Machines (ATMs). Banks themselves decide when and which denominations of notes to put in ATMs. Banks take a decision based on the past record of the ATM, consumer needs and seasonal trends. In response to the fifth and last question, the Finance Minister said that according to the annual report of RBI, Rs 2000 note has not been printed since the year 2019-20.

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Now you will need a special number to withdraw cash from SBI ATM. If you do not enter this number, you will not be able to withdraw money. Let’s know.

The bank informed that now OTP will be required to withdraw money from ATM. If you do not have OTP then you will not be able to withdraw money. This OTP will come on the mobile number registered with your bank.

Is this the new rule?

The bank has implemented this new rule to avoid fraud. In this, when you withdraw more than Rs 10000 from an ATM, you will have to enter an OTP sent to the mobile number registered with the bank account.

Here is the whole process

Every time you will need OTP to withdraw cash above 10000 thousand, without this you will not be able to withdraw money.

This OTP will be a 4-digit number, which will be used only once for withdrawing money.

In this, you will enter your ATM PIN and after that you will enter the amount. Now when you proceed, you will be asked to enter OTP.

Now when you enter the OTP, your cash will come out.

That’s why the bank took this step

The bank has taken this step to prevent fraud. SBI has the largest network of 22,224 branches and 63,906 ATMs/CDMs in India with 71,705 BC outlets. At the same time, the number of customers using internet banking and mobile banking service is around 91 million and 20 million.

The post SBI ATM Withdrawal New Guideline: Big News! SBI Bank changes the rules for withdrawing cash from ATMs, check new guideline here first appeared on Rightsofemployees.com.

According to the new rule, customers cannot withdraw cash from ATMs without OTP. At the time of cash withdrawal, customers will get an OTP on the registered mobile number. Cash can be withdrawn only after entering the OTP.

SBI said, “Our OTP-based cash withdrawal system for transactions at SBI ATMs is a vaccination against fraudsters. Protecting you from fraud will always be our top priority. SBI customers should know how the OTP based cash withdrawal system will work.

According to the bank, the new rule is applicable only on withdrawals of Rs 10,000 and above. While making withdrawals, customers need to enter OTP along with Debit Card PIN.

understand step by step

OTP will be a four digit number that the customer will get for a single transaction.

Once you have entered the amount you wish to withdraw, you will be asked to enter the OTP on the ATM screen.

You will have to enter the OTP received on the mobile number registered with the bank.

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