Which Bank has decided to restrict its customers from withdrawing money from non EMV automated ...........

Current GK ( Master) Banking Awareness

Which Bank has decided to restrict its customers from withdrawing money from non-EMV automated teller machines (ATMs) with effect from 01 February 2021 ?

State Bank of India

Punjab National Bank

Bank of Baroda

Dena Bank

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Explanation:

State-owned Punjab National Bank (PNB) has decided to restrict its customers from withdrawing money from non-EMV automated teller machines (ATMs) with effect from 01 February 2021, in an attempt to check frauds, related to money transactions.
This restriction will apply to both, financial and non-financial transactions.
To overcome this, PNB will introduce OTP based systems for withdrawing cash.
Non-EMV ATMs are those which reads data through magnetic strips and do not hold the ATM card during the transaction.