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A new facility for SBI consumers, now withdraw cash from grocery stores!

Tuesday - November 19, 2019 12:06 pm , Category : WTN SPECIAL
Point of sale terminals to work like ATMs
Point of sale terminals to work like ATMs

SBI's new gift for its consumers

NOV 19 (WTN) -
There was a time, when you needed money, you used to go to the bank to withdraw money which had to be wasted your time. But after the changes, you started going to the ATM at the bank instead of needing cash. Day or night whenever you need money, you can withdraw money from ATM very easily. But many times it happens that when you need money, there is no ATM around or if there is an ATM, then it does not have cash or it is very crowded. So many times you have to face trouble.



But now you need cash for small needs, then you will not have to go to any ATM machine! You must have been shocked after reading this, but it is going to happen. Actually, now SBI debit cardholders can easily take cash from any grocery store. For your information, let us know that this facility will be available to SBI debit cardholders at the point of sale terminal of SBI.



The SBI debit cardholders can withdraw at least 100 rupees and maximum 1,000 per day per card at these points of sale terminals of SBI. The merchant of the grocery store will not have to pay any kind of charge on withdrawal of money from the point of sale terminal. But a percentage of this transaction will have to be paid to the debit cardholder as a transaction charge. According to the guidelines of the Reserve Bank of India, this charge will be a minimum of Rs 7.50 and a maximum of Rs 10.



The SBI debit cardholders can withdraw at least 100 rupees and maximum 1,000 per day per card at these points of sale terminals of SBI. The merchant of the grocery store will not have to pay any kind of charge on withdrawal of money from the point of sale terminal. But a percentage of this transaction will have to be paid to the debit cardholder as a transaction charge. According to the guidelines of the Reserve Bank of India, this charge will be a minimum of Rs 7.50 and a maximum of Rs 10.



Actually, such a decision has been taken because only a few months ago the Reserve Bank of India formed a committee in view of the dwindling number of ATMs in the country. Since the growth of digital transactions in the country, it has been seen that people are less using ATMs. At the same time, due to excessive ATMs, the bank is spending a lot of money for its maintenance. This committee, constituted by the RBI, had recommended cash supply through shopkeepers in towns and small cities. This committee believed that banks are closed ATMs due to increased expenses, so people will be able to withdraw money through the point of sale terminals placed at grocery stores.