The lockable cassette-swap will do away with the current practice of open-cash replenishment into ATMs. Cash-in-transit (CIT) firm personnel, tasked with loading cash into ATMs, will not have to touch it anymore.
Cash-handling will be done by CITS at the cash centre, and the task of taking into account the amount of cash remaining from the last cassette-load will also be made simpler. Customers will now get to smell and feel better quality notes when they withdraw from ATMs even as it cuts down on counterfeits, discrepancies in the accounting (of cash), and aligns the country's cash-moving business with global standards.
In the new system, only fit-forATM notes will be used and counterfeits will be weeded out.
This story is from the April 03, 2023 edition of Business Standard.
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This story is from the April 03, 2023 edition of Business Standard.
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