OTP will ask for ATM for more than Rs.10,000

OTP will ask for ATM for more than Rs.10,000

Following RBI directives, banks are now taking various steps to stop the fraud of ATMs. Canara Bank has made OTP binding to customers while withdrawing more than Rs 5,000 from the card through ATM. That is, if you want to withdraw more than ten thousand from an ATM, you will have to provide an OTP number along with your password.

OTP will ask for ATM for more than Rs
New Delhi:
Following the directives of the Reserve Bank of India, banks are now taking various steps to stop the fraud of ATMs. Canara Bank has made OTP binding to customers while withdrawing more than Rs 5,000 from the card through ATM. That is, if you want to withdraw more than ten thousand from an ATM, you will have to provide an OTP number along with your password.

According to sources, other banks are now likely to regulate this OTP, just like Canara Bank. According to a senior official of State Bank of India, all the banks want to comply with the RBI directive. The RBI has made it very clear that frauds by ATMs should be avoided. Types of ATM frauds are most common between the hours of 9 am and 3 am

In 1-3, 19 ATM fraud cases were registered in Delhi. In Maharashtra, seven crimes were registered during this period. Recently, the type of cloning of the card has also surfaced. There have been 29 cases of ATM fraud across the country in the last 2-3 years. Prior to that year, the number was 19.

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