A survey undertaken by the Reserve Bank of India showed that approximately a third of the country’s Automated Teller Machines are out of order. Deputy Governor of RBI SS Mundra said the survey took into consideration 4,000 ATMs across the country, which the bank believes was a representative sample. The bank has said it will initiate “supervisory action” soon to ensure that they are fixed.
The bank is also looking at ways to reduce customer liability in the case of digital banking frauds. Mundra said, “It is a work-in-progress and we expect to come out with a framework very soon.” Mundra said the number of complaints about fraudulent credit or debit card transactions have increased in recent years.