Question

Q. Consider the following statements:

Select the correct answer using the codes given below:

• A. 1 and 3
• B. 1, 2 and 3
• C. 1, 3 and 4
• D. 1, 2, 3 and 4

Answer 1

The correct option is B 1, 2 and 3

Explanation:

• Statement 1 is correct: In August 2021, RBI had announced that it will penalise banks for failure to timely replenish currency notes in ATMs.
• Statement 2 is correct: The Scheme of Penalty for non-replenishment of ATMs has been formulated to ensure that sufficient cash is available to the public through ATMs.
• Statement 3 is correct: The biggest financial burden will be borne by the State Bank of India (SBI), which has nearly 64,000 ATMs.
• Statement 4 is incorrect: As per the scheme, cash-out of more than ten hours at any ATM in a month will attract a flat penalty of ₹ 10,000 per ATM.