RBI extends ATM cassette swap deadline to March 2022
Current · Source: Reserve Bank of India · RBI/2021-22/71 · issued 12 Jul 2021 · ~1 min read
Quick answerRBI has extended the deadline for implementing lockable cassette swaps in all ATMs from March 31, 2021 to March 31, 2022, following representations from banks citing difficulties. Banks must now report quarterly progress to RBI starting September 2021.
The rule, in the simplest words
Banks must replace all ATMs with lockable cassettes by March 31, 2022.
Banks must report their quarterly progress to RBI starting from September 2021.
Banks must monitor progress and make course corrections every quarter at the Board or ACB level.
How it plays out — a real example
A branch operations officer in Indore, Mr. Kumar, is responsible for ensuring that all ATMs in his region are equipped with lockable cassettes by the extended deadline. He reviews the progress every quarter and submits a report to RBI, making necessary adjustments to meet the deadline. With the additional time, Mr. Kumar is able to manage the operational pressure and ensure compliance with RBI regulations.
What changed
The earlier deadline of March 31, 2021 for completing cassette swap in all ATMs has been extended by one year to March 31, 2022. Banks are now required to submit quarterly progress reports to RBI within seven days of each quarter end, starting from the quarter ending September 2021.
What it means for you
Banks get additional time to retrofit or replace ATMs with lockable cassettes, easing operational pressure. However, they must now maintain stricter quarterly monitoring and reporting to the Board and RBI, which increases compliance burden. Non-adherence could invite regulatory scrutiny.
What you must do
Update your ATM cassette swap implementation plan to meet the new March 31, 2022 deadline.
Set up quarterly progress review at Board or ACB level starting from quarter ending September 2021.
Submit quarterly status reports via email to RBI's Department of Currency Management within seven days of each quarter end.
Ensure all ATMs are equipped with lockable cassettes by the extended deadline.
Who it affects
All Scheduled Commercial Banks including RRBs, Urban Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Why was the cassette swap deadline extended?
RBI received representations from the Indian Banks' Association on behalf of various banks expressing difficulties in meeting the original March 31, 2021 timeline.
What is the new deadline for completing cassette swap in all ATMs?
The new deadline is March 31, 2022.
How should banks report progress to RBI?
Banks must monitor progress quarterly at the Board or ACB level and report status via email within seven days of each quarter end, starting from the quarter ended September 2021.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
RBI’s words: “extend the timeline for implementation of cassette swap in all ATMs till March 31, 2023”
📜 Read the original circular — full text as issued by RBI
RBI/2021-22/71
DCM (Plg.) No.S39/10.25.007/2021-22
July 12, 2021
The Chairman / Managing Director & Chief Executive Officer
All Scheduled Commercial Banks including RRBs
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks.
Madam / Dear Sir,
Cassette - Swaps in ATMs
Please refer to our circular RBI/2017-18/162/DCM (Plg.) No.3641/10.25.007/2017-18 dated April 12, 2018 on the captioned subject wherein banks were advised to consider using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment. The same was advised to be implemented in a phased manner covering at least one third ATMs operated by the banks every year, such that all ATMs achieve cassette swap by March 31, 2021.
2. In this regard, representations have been received from Indian Banks’ Association on behalf of various banks expressing difficulties in meeting this timeline. Accordingly, it has been decided to extend the timeline for implementation of cassette swap in all ATMs till March 31, 2022.
3. Banks shall monitor progress and make the required course correction at the end of every quarter, at the level of Board / ACB and report status within seven days of the end of the quarter, starting from the quarter ended September 2021, to the Chief General Manager-in-Charge, Department of Currency Management, Reserve Bank of India, Central Office, Amar Building, Fourth Floor, Sir P. M. Road, Fort, Mumbai 400 001. The said report should be sent by e-mail . No hard copy need be sent.
Yours faithfully,
(Subrata Das)
Chief General Manager-in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2021-22/71 · issued 12 Jul 2021. The plain-English explanation above is BankPulse’s own independent summary.
Example: if you are a Compliance officer at a bank this circular applies to (All Scheduled Commercial Banks including RRBs, Urban Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks), your first concrete step on “RBI extends ATM cassette swap deadline to March 2022” is: “Update your ATM cassette swap implementation plan to meet the new March 31, 2022 deadline.” (RBI issued this 12 Jul 2021).
Circular: RBI/2021-22/71 -- RBI extends ATM cassette swap deadline to March 2022
Issued: 12 Jul 2021
Action required: Update your ATM cassette swap implementation plan to meet the new March 31, 2022 deadline.
Action required: Set up quarterly progress review at Board or ACB level starting from quarter ending September 2021.
Action required: Submit quarterly status reports via email to RBI's Department of Currency Management within seven days of each quarter end.
Action required: Ensure all ATMs are equipped with lockable cassettes by the extended deadline.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12130&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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