- Mumbai based State Bank of India (SBI) will start an OTP-based ATM cash withdrawal system from 1st January 2020. This facility will be available for transactions above Rs 10,000 between 8 P.M and 8 A.M.
- How It Will Work;
i) An OTP will be sent to your registered Mobile Number,
ii) The OTP is a numeric string of characters that authenticates the user for a single transaction,
iii) This will protect SBI cardholders from unauthorized ATM cash withdrawals.
- SBI HQ at Mumbai and its Chairman is Rajnish Kumar.
Published On : 31 Dec 2019
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