During past few years, the usage of ATMs for cash withdrawal has increased many folds, this has become preferred mode of withdrawing cash but on the days of strike or some natural calamity they often turn out of cash which causes a lot of discomfort to the commoners.
The Reserve Bank if India has come up with a solution to this problem. In case of strike or natural calamity banks can borrow money from Reserve Bank of India and can make the ATM operational. Bank can withdraw up to Rs. 10 crore at a time but in case or more requirement the bank can borrow more than once during working hours of the bank.In order to avail this facility the bank needs to sign an agreement with the designated outsourcing agency and it also has to authorize RBI debit their current account accordingly. Bank will also have to submit a letter to RBI stating requirement of funds to replenish the ATMs.