News

State Bank of Pakistan to begin surprise ATM inspections

August 15, 2011

The International News reports that the State Bank of Pakistan will carry out surprise inspections of ATMs installed at various places across the country to ensure the machines are working properly during Ramadan and Eid holidays, according to a central bank statement issued on Monday.

Heavy penalties would be imposed on banks failing to comply with the guidelines and instructions regarding management of ATM operations and monitoring of ATM cash/downtime during the holidays.

The SBP said that in order to ensure uninterrupted and efficient services to bank customers, the central bank issued guidelines and instructions regarding management of ATM operations, in general, and monitoring of ATM cash/downtime during Ramadan and Eid holidays, in particular.

“This non-compliance has been viewed seriously,” the statement said. “The SBP has, therefore, decided to depute special inspection teams to carry out surprise inspections of the ATMs installed at various cities/towns throughout the country to ascertain the compliance level by banks."

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