SBI allows withdrawal of cash from 4.78 lakh PoS machines free of charge

NEW DELHI: The SBI has brought a sense of relief for its customers affected by cash shortage since the last Tuesday. People in the smaller towns can now withdraw up to Rs 2,000 a day from its PoS machines at retail outlets free of charge.

As per reports, the states of Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh, Uttar Pradesh and Bihar are affected by the shortage of cash in Atm’s.

According to the Reserve Banks guideline, the withdrawal limit from PoS machines at retail outlets in Tier 1 and 2 cities is Rs 1,000 per card, per day and Rs 2,000 in smaller towns.

Neeraj Vyas, DMD (chief operating officer) of SBI in a tweet said that “Customer can use SBI & any other bank debit card to withdraw cash up to Rs 1,000 in Tier 3 to 6 & up to Rs 1,000 in Tier 1 & 2 cities per card per day presently without any charges”.

Earlier today SBI Chairman Rajnish Kumar said the problem of cash crunch being faced in some states will be resolved by tomorrow as currency is being transported to areas which are facing the shortage.

“It is not a uniform cash crunch problem. It is there in geographies like Telangana and Bihar. We are hoping that the problem will be resolved by tomorrow because cash is in transition and it is reaching these states by today evening,” Kumar told the reporters.

SBI has a total of 6.08 lakh PoS machines of which 4.78 lakh are enabled to dispense cash to the customers of SBI as well as other banks which offer this facility.

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