Search
RBI Pushes PoS Cash Withdrawal Service
September 03, 2019
Realizing that the entities equipped with point of sale (PoS) devices aren’t following instructions for cash withdrawal facility, the central bank RBI has asked more merchants to offer the same to debit card owners. It had earlier issued a notification asking them to offer cash withdrawal service at PoS devices for open-loop prepaid cards and debit cards.
The cash withdrawal limit for PoS devices as of today is ₹1,000 a day in Tier-I and II locations and 2,000 a day in Tier-III and IV locations.
Important Links:
- MBA from UK University: https://ask.careers/courses/mba-from-uk-university/
- MBA for Executives: https://ask.careers/courses/mba-for-executives/
- Professional Diploma in Banking and Financial Services: https://ask.careers/courses/professional-diploma-in-banking-management/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
