SBI customers no longer need to go to ATM, they can take cash from grocery stores

New Delhi, Nov 19 (HS): Now if you want Cash Withdrawal for small needs then there is no need to go to any ATM machine. You can easily take cash from your nearest grocery store. This facility is only for credit or debit cardholders of State Bank of India (SBI).

This facility will be available to SBI, prepaid cardholders at SBI Point of Sale Terminal. We can withdraw at least 100 rupees and a maximum Rs 1,000 per day per card. The merchant will not have to pay any charge. For this, 1% of the transaction amount has to be given as a charge. According to RBI guidelines, it will be a minimum Rs 7.50 and a maximum of Rs 10.

Even if you do not make any purchase from a merchant, you can withdraw money with the help of point of sale. This will not bother the merchant to deposit cash in the bank branch every day. Time will also be saved.

For more information about this, you can visit the official site of SBI. A few months ago, Reserve Bank of India formed a committee in view of the dwindling number of ATMs in the country. This committee recommended cash supply through shopkeepers in small towns or suburban areas. The committee believed that banks are closing ATMs due to increased expenses, in such a way people can withdraw cash through grocery stores.