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New UPI feature: Soon, you can deposit cash through UPI at ATMs, announces RBI
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UPI at ATMs.
To increase the convenience of several customers who use UPIs on a daily basis, the Reserve Bank of Bank (RBI) has allowed users to deposit cash in cash deposit machines (CDMs) through UPI.
«Deposit of cash through cash deposit machines (CDMs) is primarily being done through the use of debit cards. Given the experience gained from cardless cash withdrawal using UPI at the ATMs, it is now proposed to facilitate deposit of cash in CDMs using UPI,» said RBI Governor Shaktikanta Das.
This measure will further enhance customer's convenience and make currency handling process easier for banks.
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