Punjab National Bank (PNB) has decided to restrict its customers from withdrawing money from non-EMV automated teller machines (ATMs) with effect from 01 February 2021, in an attempt to check frauds, related to money transactions. This restriction will apply to both, financial and non-financial transactions. To overcome this, PNB will introduce OTP based systems for withdrawing cash.
WARRIOR 5.0 Batch for SBI, RRB, RBI and IBPS Exams Banking Awareness Online Coaching | Bilingual
What are non-EMV ATMs?
Non-EMV ATMs are those which reads data through magnetic strips and do not hold the ATM card during the transaction.
Other major decision
Important takeaways for all competitive exams:
Why in News? In a decisive move following the April 22 Pahalgam terror attack, the…
India has played a pivotal role in a significant scientific milestone — the completion of…
In a significant development for India's cultural heritage, the ancient group of temples and monuments…
In a world that is increasingly recognizing the power and potential of women leaders, Forbes…
In a major global step towards ecosystem restoration, the Food and Agriculture Organization (FAO) of…
NITI Aayog released a report titled Enhancing Competitiveness of MSMEs in India, in collaboration with…
![](data:image/svg+xml;charset=utf-8,<svg height="169px" width="300px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="34px" width="156px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="245px" width="245px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
