ATMs not to be refilled with cash after 8 pm

ATMs not to be refilled with cash after 8 pm

NEW DELHI: Concerned over incidents of attack on cash-carrying vans, government has proposed that ATMs should not be replenished with cash after 8 pm in cities and private cash transportation agencies must collect money from the banks in the first half of the day.
The deadline for putting money in the ATMs in rural areas would be 5 pm and in Naxal-affected districts 3 pm. Also, specially designed cash vans, fitted with CCTVs and GPS must not carry more than Rs 5 crore per trip.
Two armed guards and a driver in each van must be trained to “disengage with the situation and drive vehicle to safety” in case of an attack.
These are part of the new SoPs proposed by the home ministry for private security agencies engaged for the task of carrying cash and replenishing ATMs. Nearly 8,000 private vans ferry around Rs 15,000 crore daily between banks, currency chests and ATMs across India.
An additional Rs 5,000 crore is held up overnight by private security agencies in their own cash vaults on behalf of the banks.
The SoPs have been prepared after a spurt in attacks, hijacking and looting of cash vans which are seen as soft targets.
The government has proposed that for replenishment in ATMs, cash transportation agencies must collect cash from the bank in the first half of the day and no cash loading of the ATMs or cash movement should be done after 8 PM in urban centers across India.

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