Home >industry >banking >Withdraw up to Rs2,000 from PoS machines free of charge: SBI

New Delhi: State Bank of India (SBI) on Thursday said people in smaller towns can withdraw up to Rs2,000 a day from its point of sale (PoS) machines at retail outlets free of charge, a move aimed at easing cash crunch in some parts of the country.

As per the Reserve Bank of India (RBI) guidelines, the withdrawal limit from PoS machines at retail outlets in Tier 1 and 2 cities is ,000 per card, per day and ,000 in smaller towns. “For withdrawals up to 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 1,000 in Tier 3 to 6 & up to 1,000 in Tier 1 & 2 cities per card per day presently without any charges," Neeraj Vyas, DMD (chief operating officer) of SBI tweeted.

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 in New Delhi Thursday morning, SBI chairman Rajnish Kumar said the problem of cash crunch being faced in some states will be resolved by tomorrow as currency is being transported to areas which are facing the shortage.

“It is not a uniform cash crunch problem. It is there in geographies like Telangana and Bihar. We are hoping that the problem will be resolved by tomorrow because cash is in transition and it is reaching these states by today evening," Kumar said.

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