A deadline of 9 pm in cities and 6 pm in rural areas for stocking cash in ATMs will be imposed from February next year. This is part of new standard operating procedures to ensure maximum safety of cash, according to a government notification.
Among other measures to tighten security, two armed guards will be mandatory in each cash van.
The notification issued by the Union home ministry also says that in Naxal-hit areas, no cash will be put in ATMs after 4 pm and it will be transported in armoured vehicles.
The notification clarifies that these measures will come into effect from February 8, 2019 and are being made in wake of heightened attacks on cash vans, cash vaults, ATM frauds.
Currently, the transportation of money is done in privately-owned cash vans that carry over Rs 15,000 crore daily, according to rough estimates.
"No cash loading of the ATMs or cash transportation activities shall be done after 9 pm in urban areas, after 6 pm in rural areas and before 9 am or after 4 pm in the districts notified by the central government as Left Wing Extremism affected areas," the notification said.
One of the two guards shall remain present in the van at the time of loading or unloading, or any break taken on the way. Additionally, the private security agency will ensure that all cash handling, including counting, sorting, and bundling activities shall be carried out in secured premises in accordance with specific guidelines.
According to the new guidelines, cash vans will also be fitted with GPS tracking device and it must be ensured that a van does not carry more than Rs 5 crore per trip.
In an additional cautionary step, the security agencies — before employing prospective guards —will be required to carry out background checks like is the norm in police, Aadhaar and residence verifications, along with previous employer check.
"The cash van shall be provided with a small CCTV system with at least five days recording facility and three cameras installed in front, rear and inside of the cabin," the notification reads, adding, "A security alarm with GSM-based auto-dialer shall be provided with a motorised siren."
The home ministry has also advised that the cash vans be equipped with hooter, fire extinguishers and emergency lights to ensure quick reaction in case of an attack.
FEB 8 DEADLINE
- Notification clarifies that these measures will come into effect from February 8, 2019
- Two armed guards will be mandatory in each cash van
- The private security agency will ensure that all cash handling, including counting, sorting, and bundling activities shall be carried out in secured premises
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