SBI introducing OTP based cash withdrawal from ATMs

SBI has been working to prevent malpractices in ATMs. The bank has introduced new security features.

SBI, the country's largest public sector bank, will be implementing the new facility from January 1, 2020, to prevent irregularities. Accordingly, from 8 pm to 8 am, When withdrawing money from bank ATMs, the OTP (once Time password) for the cell phone number associated with the bank account. You can only withdraw money using this OTP number. This new procedure applies only to transactions over Rs.10,000.

SBI said the new system has been introduced as an added layer of security through ATMs, Said on its Twitter. SBI Bank customers, when they withdraw money through a different bank's ATM, then it will continue to be old methods. This is because of the method not yet developed in NFS, said State Bank. 

Already, SBI Offering to their customers "Yono Cash", a cardless money withdrawing method.