The Reserve Bank of India (RBI) has done away with the requirement of obtaining permission for banks to provide cash withdrawal facility at PoS terminals. According to RBI, the designated merchant establishments may be advised to clearly display the availability of this facility.
Though, all other provisions including those pertaining to the submission of data will continue. Earlier, banks had to take one-time permission from the RBI to offer the facility. (Source)
Jitendra has spent more than seven years in journalism. He had been founding-member of online media platforms such as Newzstreet, Indiasamvad and iamwire. Prior to that he did long, deeply reported feature stories for The Indian Express and handled desk at IANS. Among the things that excite him is wonder about life and its creative potential in every sphere.
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