RBI allows banks to provide all services at off-site ATMs

The Reserve Bank of India has allowed banks to offer the whole array of services, even at off-site automated teller machines.

Off-site ATMs are set up on a standalone basis and are not on the premises of a bank’s branch.

“With a view to providing operational freedom to banks, it is advised that banks are now free to offer all their products and services through the ATM channels, provided the technology permits the same, and adequate checks are put in place to prevent the channel from being misused to perpetuate frauds on the banks/other genuine customers,” it said in a notification.

Earlier, the banking regulator had allowed all services to be offered only at onsite automated teller machines or the ones that are on the premises of a bank’s branch.