Friday, January 10, 2014

5005 - Aadhaar enabled ATMs: Banks oppose RBI move citing huge cost - Money life

MONEYLIFE DIGITAL TEAM | 12/12/2013 12:02 PM |  


The Centre's overarching agenda to make Aadhaar a success by forcing people to withdraw money from ATMs under a diktat from RBI is being opposed by bankers due to huge cost involved. Several consumer activists and NGO, including Moneylife Foundation also sent a memorandum to RBI governor on the same issue

Leading banks are set to oppose the Reserve Bank of India (RBI) diktat that all new automated teller machines (ATMs) and point of sale (POS) machines should be tailored to accept Aadhaar — one of the widely publicised ventures aimed at winning votes and