RBI amends ATM cassette swap guidelines, permitting banks to delegate monitoring to Board-nominated committees.
RBI Allows Delegation of ATM Cassette Swap Monitoring
The RBI issued a partial modification to its March 31, 2022 circular on cassette swaps in ATMs. Circular RBI/2026-27/273, dated October 1, 2026, allows banks to delegate the monitoring of cassette swap implementation to a committee authorised by the Board.
Cassette swaps—where pre-filled currency cassettes are exchanged during ATM maintenance—reduce cash handling risks and improve efficiency. Earlier guidance required direct Board oversight; the revised norm permits delegation while retaining accountability.
"Monitoring the progress of implementation of cassette swap may be delegated by the Board to a Committee,"the circular states. Legal and compliance teams should ensure that delegated committees have clear mandates and reporting mechanisms to meet audit and regulatory requirements.
Citations
- RBI/2021-22/190
- RBI/2026-27/273
