The RBI has decided to extend the timeline for implementation of cassette swap in all ATMs till March 31, 2023.
Earlier, the same was advised to be implemented covering at least one-third of ATMs operated by the banks every year, which was extended to March 2022
Cassette Swap is lockable cassettes that are swapped at the time of cash replenishment in the ATMs. The framework for cassette swap was recommended by the Committee on Currency Movement Chaired by D.K. Mohanty.