No ATM in cities will be refilled with cash after 9 pm , as per the set of “model rules” finalized by the government under the Private Security Agencies Regulation Act, 2005 to regulate operation of cash vans by agencies hired by banks and other financial institutions. The time limit will be 6 pm in rural areas and 4 pm in areas affected by Naxal activities. Home Minister Rajnath Singh held a high-level review meeting yesterday in which model rules for operating cash vans and ATMs have been finalised.
These rules are being seen as a measures against incidents of attack on cash vans, especially after the government’s decision on demonetisation. Currently about 8,000 cash vans load currency worth Rs 15,000 crore on a daily basis.
The states have been advised to enforce agencies and banks dealing with cash to carry money in specially designed vans, that should be fitted with CCTVs and GPS. The rules also mandate each vehicle to have a driver, two armed security guards and two ATM officers/custodians, who have undergone background check. These personnel must be trained to disengage with the situation and drive vehicle to safety in case of an attack. No vehicle should not carry more than Rs 5 crore at any time. While the “model rules” have been finalized by the Home Ministry, the Ministry of Law and Justice has to formally vet it.,
