Finmin asks banks to ensure cash at all branches, ATMs

Finance Minister Nirmala Sitharaman has instructed Indian banks to bolster their operational and cybersecurity preparedness, especially in border regions, as tensions with Pakistan escalate.

- Gopika Gopakumar, Shayan Ghosh & Subhash Narayan

During a Friday meeting with financial sector leaders, she stressed the need for uninterrupted services.

The finance ministry has told banks to ensure normal banking operations at all branches. According to a ministry statement, Sitharaman instructed banks to appoint two senior officials at the headquarters—one to oversee cyber-related issues and the other to manage operational functions such as ATM cash availability and branch functionality.

According to bankers, the Department of Financial Services (DFS) has directed the banks to make cash available at all ATMs, branches and customer service points (CSPs) to prevent any disruption in services.

"DFS has told banks to ensure cash in ATMs and branches have to be maintained. Economy has to be kept going and customer service needs to be offered," said A. Manimekhalai, managing director and chief executive officer of Union Bank.