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India issues strict regulations for ATM replenishment, cash in transit

August 21, 2018

Following a rash of attacks on cash vans, vaults, and ATMs, as well as internal fraud. India's home ministry has taken measures meant to discourage such attacks. 

According to a report by Economic Times, the ministry has ordered that, starting Feb. 8, 2019, cash replenishment for the nation's ATMs must be carried out before 9 p.m. in cities and before 6 p.m. in rural areas. 

Additionally, cash in transit is to be accompanied by two armed guards in addition to the driver, and must be transported in armored vans..

According to the report, the home ministry further ordered that ATMs in areas where violence has been carried out by Naxalists, i.e., members of the nation's Maoist party, ATM replenishment is to be carried out before 4 p.m. 

Further, cash must be collected from banks in the first half of the day and may only be transported in armored vehicles, the report said.

The home ministry also issued a comprehensive list of specifications for the storing and transport of money by cash-handling firms.