MHA sets new time deadlines for transportation of ATM-cash
The Ministry of Home Affairs proposed that cash in ATMs across India be replenished within certain time deadlines. It has suggested that no cash be moved around in ATM vans after 9pm in cities, 6pm in villages and 4pm in Maoist-affected areas. The move aims to check the recent spike in incidents of ATM-related robberies and heists. Read on to know more.
New guidelines most likely to be issued from January
The law ministry has been sent a proposal to formulate guidelines for the licensed private security agencies that handle the transport of cash to and from ATM kiosks, bank branches and certain customer sites. Once the proposal is vetted, the guidelines will become a part of the Private Security Agencies Regulation Act, 2015, and will most likely be implemented from January 2018.
Mandatory for all cash transportation vehicles to be crisis ready
Laying down clear rules for stepping up security, the ministry makes it mandatory for cash transportation vehicles to be crisis ready. Each must have a hooter, fire extinguishers, emergency lights, live GPS tracking system and CCTVs (with backup footage of at least a month). They must also have two trained armed security guards and two custodians on board along with the driver.
ATM vans ferry Rs. 15,000 crore across India each day
The MHA also proposed that each cash van has different compartments for passengers and storing cash. According to the Ministry's data, Rs. 15,000 crore is ferried across the country each day in over 8,000 vans, which hold about Rs. 5,000 crore overnight for banks.
