State Bank Of India

State Bank of India (SBI) is going to make OTP-based cash withdrawal facility operational round the clock at its ATMs for transactions of Rs 10,000 and above from September 18, 2020. In January 2020, the lender had introduced OTP-based cash withdrawals for above Rs 10,000 between 8 PM-8 AM through all its ATMs.

For withdrawals of Rs 10,000 and above, the bank's debit cardholders will now have to enter OTP (one-time password) sent on their registered mobile numbers along with their debit card PIN each time. Implementing this facility throughout the day would prevent SBI debit cardholders from the risk of falling prey to fraudsters, unauthorized withdrawals, card skimming, card cloning and the likes. The lender has urged all its customers to register or update their mobile numbers.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.