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SBI to launch OTP-based ATM cash withdrawal from January 1

SBI to launch OTP-based ATM cash withdrawal from January 1

Friday, December 27, 2019, 3:27 PM

With ATM-related frauds on the rise, banks are introducing ways to protect their customers from tricksters. The country's largest public-sector lender, the State Bank of India(SBI), via a tweet, said that it will introduce a one-time password (OTP)-based cash withdrawal system for its ATMs. The bank said that this facility will be available for transactions above Rs.10,000 between 8 pm and 8 am.
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