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India gets its first cryptocurrency ATM

Saturday, October 20, 2018, 7:13 PM

Since the Indian government and the Reserve Bank of India (RBI) imposed restrictions on the trading of cryptocurrencies in India earlier this year, Indians were left with no options to buy and sell cryptocurrencies. However, now, a cryptocurrency exchange, Unocoin, has exploited a loophole in government regulations to bring India its first cryptocurrency ATM. The cryptocurrency ATM is in Bengaluru.
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You can't withdraw more than Rs. 20,000 from SBI ATM

Monday, October 1, 2018, 10:27 PM

In an attempt to curb financial fraud and ATM skimming, State Bank of India (SBI) has decided to bring down the daily withdrawal limit from ATMs to Rs. 20,000. The limit till now was Rs. 40,000. This change will come to effect from October 31 and is being done to promote digital and cashless transactions, said a communique sent to bank officials.
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SBI halves daily ATM cash withdrawal limit to Rs 20,000

Monday, October 1, 2018, 10:24 AM

The countrys largest lender, SBI(SBINSE 0.75 %), has lowered ATM cash withdrawal limit to Rs.20,000 a day, from Rs.40,000. The lower-limit will be effective from October-31. Smaller cities are driving credit card growth of some of the large banks, with cardholders outside the top 10-cities accounting for 40-45% of spending. SBI has directed all its branches to display the message on notice boards.

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