Every day, new innovations are occurring in the technology sector in the country, significantly impacting the lives of ordinary people. At the beginning of September, the Reserve Bank of India announced a new feature that will allow cash deposits at ATMs through the Unified Payments Interface (UPI). This new feature, known as UPI Interoperable Cash Deposit (UPI-ICD), was unveiled by T. Rabi Shankar, the Deputy Governor of the central bank. Meanwhile, some specific banks have made changes to their ATM cash deposit limits. If your bank account is not linked to a PAN card, these limits will differ. It’s important to note that Automated Deposit Withdrawal Machines (ADWMs) are a type of ATM-like machine that allows customers to deposit money into their accounts without visiting the respective bank branch.
Cash Deposit Limits for PNB Customers
Customers of Punjab National Bank (PNB) can deposit a maximum of ₹1,00,000 or a total of 200 notes in a day using the Automated Deposit Withdrawal Machine (ADWM). If the account holder’s account is linked to a PAN card, they can deposit ₹1,00,000. However, for account holders whose accounts are not linked to a PAN, the deposit limit is ₹49,900.
Cash Deposit Limits for Union Bank of India
Customers of Union Bank of India can deposit a maximum of 200 notes in a day through the ADWM. If their bank account is not linked to a PAN card, they can deposit ₹49,999. If the account is linked to a PAN card, they are allowed to deposit an additional ₹1,00,000.
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SBI Cash Deposit Limits
Customers of the State Bank of India (SBI) can deposit ₹49,900 through ATMs using cardless facilities in a day, while they can deposit up to ₹2,00,000 using a debit card. Additionally, customers can also deposit cash into their Public Provident Fund (PPF), Recurring Deposit (RD), and loan accounts. SBI allows the deposit of up to 200 notes per day. It should be noted that customers can only deposit denominations of ₹100, ₹200, ₹500, or ₹2,000 through the Automated Deposit Withdrawal Machine (ADWM).