How to do Cardless Cash Withdrawal by UPI:
Reserve Bank of India announced to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).
You can watch this video to know how UPI based cardless withdrawal can be done from ATM:
At present only few banks are providing the facility of card-less cash withdrawal. But Now all banks have to do same as per RBI Instruction. RBI governor Shaktikanta Das while announcing the first Monetary Policy Committee (MPC) statement for the financial year 2022-2023 also said that once withdrawal through UPI will be implemented , the absence of the need for physical card for such transactions would help in prevention of frauds such as card skimming, card cloning, etc.
To understand About Card Cloning please watch this video :
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RBI will issue separate instructions to National Payments Corporation of India (NPCI), ATM networks and banks to implement cash withdrawal by UPI without cards From ATM .
