April 19, 2018 / 10:19 AM / a month ago

BRIEF-India's SBI Says Providing Cash Withdrawal Through Point Of Sale Machines Without Any Charges

April 19 (Reuters) - State Bank of India:

* SAYS PROVIDING CASH WITHDRAWAL THROUGH POINT OF SALE MACHINES WITHOUT ANY CHARGES TO BANK CUSTOMERS Source text for Eikon: [To reach out and facilitate maximum number of people looking for convenient cash withdrawal, State Bank of India, country’s largest lender is also providing facilities of cash through ‘Cash@POS’ initiative. Debit card holders of SBI and all other banks can withdraw cash from PoS machines installed by SBI across various merchant locations. As per the RBI guidelines customer can withdraw Rs. 1000 in Tier I and Tier II cities whereas Rs. 2000 can be withdrawn in Tier 3 to Tier 6 cities per day per card. Presently, the bank will not be charging any fees. SBI has a total of 6.08 lakh PoS machines of which 4.78 lakh PoS machines are enabled to dispense cash to the customers of SBI and the banks who have enabled this facility for their customers.] Further company coverage: (Mumbai newsroom)

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