In a move to avoid cash crunch in some parts of the country, country’s largest bank State Bank of India (SBI) on Thursday said people in smaller towns can withdraw up to Rs 2,000 a day from its point of sale or PoS machines at retail outlets free of charge.
“For withdrawals up to Rs 2000, @TheOfficialSBI has cash@POS facility @ 4.78 lac POS machines. “Customer can use SBI & any other bank debit card to withdraw cash up to Rs 2,000 in Tier 3 to 6 & up to Rs 1,000 in Tier 1 & 2 cities per card per day presently without any charges,” said Neeraj Vyas, DMD (chief operating officer) of SBI in a tweet.
As per the RBI guidelines, 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. 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.
There have been reports of ATMs running dry from Andhra Pradesh, Telengana, Karnataka, Madhya Pradesh, Uttar Pradesh and Bihar. While talking to reporters on Thursday morning, SBI Chairman Rajnish Kumar said the problem of cash crunch being faced in some states will be resolved by Friday as currency is being transported to areas which are facing the shortage.