The Reserve Bank of India vide its notification dated 12th July 2021 has extended the timeline for implementation of cassette swap in all ATMs till March 31, 2022.
In order to mitigate risks involved in open cash replenishment/ top-up, it was advised by the Committee on Currency Movement that the banks may consider using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment.
Banks shall monitor progress and make the required course correction at the end of every quarter, at the level of Board / ACB and report status within seven days of the end of the quarter, starting from the quarter ended September 2021, to the Chief General Manager-in-Charge, Department of Currency Management, Reserve Bank of India, Central Office, Amar Building, Fourth Floor, Sir P. M. Road, Fort, Mumbai 400 001.
