Yes, you read it correct. After 9 PM, no ATM to be refilled with Cash in cities. And, in rural areas, after 6 PM no ATM to be Refilled with Cash. The Home Ministry announced that this new procedure would come into effect from next year February 8, 2019. Two armed guards will accompany in transit as per a new directive. The deadline for refilling money in the ATMs in Naxal-hit areas is 4 PM. In the first half of the day, the private cash handling agencies must collect money from the banks; and, transport notes only in armored vehicles.
After 9 PM, No ATM to be Refilled with Cash, Why?
More than 8,000 private cash vans are working across the country. Non-bank private agencies are operating these vans. These private vans handle more than INR 15,000 Crores daily on behalf of banks.
The new Standard Operating Procedures (SoPs) for Cash Transportation:
- As per the new guidelines, these agencies are responsible for providing private security for the cash transportation. Along with the essential number of well-trained staff.
- Each cash van shall have one driver, two armed security guards and two ATM officers or custodians.
- One armed guard must accompany driver in the front. Another armed guard will sit in the rear portion of the van while in transit.
- At least one armed security guard should always be with the cash van all the time. All the time means during loading or unloading, nature’s call, tea or lunch break, be it anything.
- Any cash transportation shall be done only in secured cash vans which has a GPS tracking device in it.
- No cash van can carry more than INR 5.00 Crore cash per trip.
- Before appointing anyone for the cash transportation, private agencies need to make sure their proper verification. Such as police, Aadhaar and residence verifications. Also, previous employer check, credit history check and fidelity insurance.
- Each of the cash boxes shall be secured to the floor with separate chains and locks. And, those will open only by using separate keys. Those keys will be in the possession of custodians.
- Every cash van will have a small CCTV system in it. These CCTV will have at least five days recording facility. With three cameras one each in front, rear and inside of the cabin.
- There will be a security alarm with GSM-based auto-dialer with a motorized siren. The cash van will have a hooter, fire extinguishers and emergency lights. This will ensure quick reaction in case of an attack.
- It’s the duty of a private security agency to ensure secure premises for all cash handling activities. Such as counting, sorting, and bundling.
- As per the new directives, the premises should have two physically independent areas. One part for general office purpose. And, the other part for safe cash processing and handling activities.
- The premises should be spacious enough for the cash deposit, collection, sorting, counting, delivery and dispatch of cash on secured cash vans.
It is advisable to keep adequate amount of cash during the night. You will not get cash from the ATM, if ATM is out of cash. After 9 PM, No ATM to be Refilled with Cash for the security reasons.