CURRENT AFFAIRS

Detailed explanation-1: -Mumbai: ICICI Bank today announced the launch of a ‘Cardless Cash Withdrawal’ facility from its ATMs. This service enables customers to withdraw cash from over 15, 000 ATMs of the bank by simply raising a request on ‘iMobile ’, its mobile banking application.

Detailed explanation-2: -Detailed Solution RBL Bank has launched a cardless cash withdrawal facility from ATMs, leveraging the Instant Money Transfer (IMT) system.

Detailed explanation-3: -A Cardless Cash Withdrawal transaction enables you to transfer cash from your HDFC Bank account to anyone with a valid domestic mobile number across India. The beneficiary can withdraw the amount from any specified HDFC Bank ATM without having to use a Debit or a Credit card.

Detailed explanation-4: -Currently, only select banks like ICICI and HDFC offer cardless cash withdrawal facility at their ATMs. As days pass, all other banks operating in the country will allow customers to withdraw money from ATM without the help of their debit or credit card.

Detailed explanation-5: -Cardless ATMs provide access to your account and allow you to withdraw cash without the need for a card. Instead, they rely on account verification via text message or a banking app on your smartphone.