After two member gang exploited the technical flaws and looted at least 48 lakhs from the bank, India’s largest bank – State Bank of India has ceased its functioning of Automated Transaction Machine (ATMs) across Tamil Nadu.
How will it impact SBI’s Customers?
- The SBI customers wont be able to make any transaction or withdraw any cash from the bank as until the shutdown opens.
Earlier about a week ago State Bank of India put out posters outside all of its ATM centers that conveyed a message that due to some technical issue the cash withdrawal has been disabled in recyclers that is Cash Deposit Machines (CDM).
However, the banks asked the customers to use Cash Deposit Machines as Automated Transaction Machines for cash withdrawal instead.
Notably, neither the Automated Transaction Machines nor the Cash Deposit Machines are available to make any transaction or withdrawal for now until the banks announces for resume of its activities.
A special team has been formed in order to carry out further investigation to catch the thieves.
Importantly, the State Bank of India’s chief general manager – R Radhakrishnan stated to media, “as a measure to curtail further loss, we have disabled all machines which have problems. He further added, that these machines are not available to dispense cash. The theft took place only through one type of Cash Deposit Machines.”
