Most people queuing outside bank ATMs are unaware of another option to draw cash. In the wake of cash crunch faced by customers across ATMs, the country's largest lender State Bank of India (SBI) has allowed debit card holders to withdraw money from the bank's Point of Sale (PoS) terminals without any charge.
For withdrawals upto Rs2000, @TheOfficialSBI has cash@POS facility @ 4.78 lac POS machines.— Neeraj Vyas (@Neerajvyas1958) 19 April 2018
Customer can use SBI & any other bank debit card to withdraw cash upto Rs2000 in Tier 3 to 6 & upto Rs1000 in Tier 1 & 2 cities per card per day presently without any charges. #CashCrunch
"Debit card holders of SBI and all other banks can withdraw cash from PoS machines installed by SBI across various merchant locations...To reach out and facilitate maximum number of people looking for convenient cash withdrawal, State Bank of India, country's largest lender is also providing facilities of cash through 'Cash@POS' initiative," SBI said in a statement.
A customer can withdraw Rs 1000 in tier-1 and tier-2 cities per card. An amount of Rs 2000 can be withdrawn from PoS points in tier-3 to tier-6 cities per day per card as per RBI's instructions.
Earlier currency crunch was reported in various states, including Andhra Pradesh, Madhya Pradesh, Telangana, Maharashtra, and Bihar. The government and the Reserve Bank of India have assured that the cash scarcity is temporary.
The SBI stated Wednesday that the cash availability at its ATMs across the country has improved in the past 24 hours. "Availability of cash in SBI ATM has improved in the last 24 hours. Efforts are being made on a continuous basis to improve the cash availability further in a few geographies," the bank said in a release.