REPORTING OF ATM TRANSACTIONS

Notification No.: RBI/2012-13/382
DPSS.CO.PD.No.1207/02.10.002/2012-2013

Date: January 17, 2013

In reference to circular DPSS. No. 101/02.10.02/2009-2010, dated July 17, 2009 on the subject in terms of which banks are required to place a quarterly review of ATM transactions to its Board of Directors, indicating, inter alia, the quantum of penalties paid, reasons thereof and the action taken to avoid recurrence of such instances.

Now , in addition to the above, banks are advised to simultaneously place a quarterly review of ATM transactions to its Board of Directors, indicating, inter alia, the denial of services to the customers at ATM sites , reasons thereof and the action taken to avoid recurrence of such instances.

Banks are also advised to forward a copy of the report along with the observations of the Board to the Chief General Manager, Reserve Bank of India, Department of Payment & Settlement Systems, Mumbai.

The directive is issued under section 18 of Payment and Settlement Systems Act 2007, (Act 51 of 2007). Non-adherence to the provisions of this circular shall attract penalty as prescribed under the Payment and Settlement Systems Act 2007 (Act 51 of 2007).

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- +91-9873082769